After Rigel Pharmaceuticals (RIGL) announced it has entered into an exclusive global licensing agreement with Pfizer (PFE) and Arvinas (ARVN) for Veppanu for the treatment of ER+/HER2-, ESR1-mutated advanced or metastatic breast cancer following at least one line of therapy, H.C. Wainwright said Pfizer’s decision to hand off to Rigel “makes strategic sense” given that the Phase 3 data support a more focused ESR1-mutated opportunity rather than the broader all-comer ER+/HER2- market. For Rigel, “even a meaningful share of this focused market could be highly impactful,” says the analyst, who reiterates a Buy rating and $57 price target on Rigel shares.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RIGL:
- Arvinas, Pfizer enter license pact with Rigel Pharmaceuticals for Veppanu
- Rigel Pharmaceuticals enters license agreement with Arvinas, Pfizer
- Rigel Pharmaceuticals price target lowered to $69 from $71 at Citi
- Rigel Pharmaceuticals Signals Profitable Growth After Earnings Call
- Rigel Pharmaceuticals reports Q1 EPS 44c, consensus 87c