Rigel reiterated by JMP at market perform

Rigel Pharmaceuticals, Inc. was reiterated by JMP Securities analyst Adam Cutler at a market perform rating after an analyst day highlighted a broad pipeline, although JMP said it was too early to get excited. Development programs include treatments for allergies, asthma, rheumatoid arthritis and hepatitis C. But, the early stage nature of the programs and lack of stock-moving news in the next few months calls for a market perform rating. Shares of the South San Francisco, Calif., pharmaceutical company were down 14 cents, or 1.56%, at $8.82 on volume of 1,399,638 shares versus the three-month running average of 1,055,960 shares.

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