A number of research firms have changed their ratings and price targets for Rigel Pharmaceuticals (NASDAQ: RIGL):

  • 12/21/2017 – Rigel Pharmaceuticals had its “overweight” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $6.00 price target on the stock.
  • 12/19/2017 – Rigel Pharmaceuticals was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 12/15/2017 – Rigel Pharmaceuticals was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 12/14/2017 – Rigel Pharmaceuticals is now covered by analysts at Cantor Fitzgerald. They set an “overweight” rating and a $6.00 price target on the stock. They wrote, “Commercial in 2018. Fostamatinib has a PDUFA date of April 17, 2018 for its application in ITP. With over 5,000 patient-years of treatment experience and a robust Phase 3 clinical package, we anticipate a positive decision in April. Rigel has begun pre-commercial activities for a potential launch and outlined its plans for a full commercial team of 50-60 individuals. Based on the mixed efficacy of currently available treatments, fragmentation of the therapeutic landscape, and concentration of prescribing physicians (3,000 hematologists and hematologist- oncologists), we believe Rigel will be successful at commercializing the drug.””
  • 12/11/2017 – Rigel Pharmaceuticals was given a new $7.00 price target on by analysts at HC Wainwright. They now have a “buy” rating on the stock.
  • 11/11/2017 – Rigel Pharmaceuticals was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $4.25 price target on the stock. According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
  • 11/6/2017 – Rigel Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $7.00 price target on the stock.

Shares of Rigel Pharmaceuticals, Inc. (RIGL) opened at $3.49 on Monday. Rigel Pharmaceuticals, Inc. has a 1-year low of $1.94 and a 1-year high of $4.47. The company has a market cap of $514.20, a PE ratio of -5.92 and a beta of 1.30.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 102.26%. The business had revenue of $0.90 million during the quarter. During the same period in the previous year, the company posted ($0.24) earnings per share. Rigel Pharmaceuticals’s quarterly revenue was down 76.1% on a year-over-year basis. analysts predict that Rigel Pharmaceuticals, Inc. will post -0.56 EPS for the current fiscal year.

In related news, CFO Ryan D. Maynard sold 100,000 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $3.90, for a total transaction of $390,000.00. Following the completion of the transaction, the chief financial officer now directly owns 100,000 shares of the company’s stock, valued at $390,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.21% of the company’s stock.

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

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