Seeking Alpha

Stone Fox Capital's  Instablog

Stone Fox Capital
Send Message
Stone Fox Capital Advisors is a registered investment advisor founded in 2010. The firm offers portfolio management with a focus on opportunistic stocks providing secular growth trends at an affordable value. An emphasis is placed on fundamental analysis though charts are used for timing entry... More
My company:
Stone Fox Capital
My blog:
Out Fox The Street
  • Rigel Pharma Target Set at $33 - 230% higher 0 comments
    Jun 9, 2009 2:58 PM | about stocks: RIGL

    Rigel Pharma (RIGL) has been a investment for the Growth Portfolio for several months now. It's started to get some interest not that it's Arthritis drug is nearing the end of Phase II trials. This drug has blockbuster potential so it's amazing how cheap the stock got back earlier this year. Its also just about unheard of to see a price target suggesting a 230% gain and the stock only jumps 5%.

    The following information about the upgrade from Rodman & Renshaw was posted here.

    • Rodman & Renshaw analyst Simos Simeonidis gave the stock an "Outperform" rating and expects shares to reach $33 over the next 12 months as the drug candidate R788 advances through development. It is currently in midstage clinical trials, with study data expected in July.
    • The drug candidate has the potential to "become a significant player" in the rheumatoid arthritis market, he said, in a note to investors, citing its effectiveness so far in trials and oral administration. He expects upcoming data in July to be positive, reinforcing the view that R788 is approvable and could take significant market share away from injectable drugs.
    • R788 would enter a market against several entrenched treatments for the condition, including Biogen Idec Inc. and Genentech's Rituxan and Amgen's Enbrel, both of which are injections.
    • A partnership for R788 is likely the next major catalyst for Rigel, Simeonidis said. Potential partners would likely prefer to wait until after the an FDA meeting before making a decision, he added, and expects a deal to occur in the fourth quarter or early in 2010.

    Stocks: RIGL
Back To Stone Fox Capital's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.