Rigel Pharmaceuticals price target raised to $27 from $17 at B. Riley

B. Riley raised the firm’s price target on Rigel Pharmaceuticals (RIGL) to $27 from $17 and keeps a Neutral rating on the shares. The shares rallied significant after earnings and the abstract update for R289 in lower-risk myelodysplastic syndrome, the analyst tells investors in a research note. The firm says that while it missed the opportunity to upgrade the stock after recognizing the early but encouraging data in the abstract, it upped the price target based on updated key opinion leader commentary.