Rigel Pharmaceuticals (RIGL) is Initiated by H.C. Wainwright to Buy, Price Target at $6

Rigel Pharmaceuticals (RIGL) was Initiated by H.C. Wainwright to “Buy” and the brokerage firm has set the Price Target at $6. H.C. Wainwright advised their investors in a research report released on Jul 13, 2016.

Many Wall Street Analysts have commented on Rigel Pharmaceuticals. Rigel Pharmaceuticals was Initiated by Piper Jaffray to “Overweight” on Jun 13, 2016. Rigel Pharmaceuticals was Upgraded by JP Morgan to ” Overweight” on Apr 22, 2016.

On the company’s financial health, Rigel Pharmaceuticals reported $-0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.21. The company had revenue of $5.03 million for the quarter, compared to analysts expectations of $4.00 million. The company’s revenue was up 130.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.21 EPS.

Rigel Pharmaceuticals closed down -0.04 points or -1.78% at $2.21 with 5,03,497 shares getting traded on Monday. Post opening the session at $2.25, the shares hit an intraday low of $2.18 and an intraday high of $2.26 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 12, 2015, Donald G Payan (EVP, Pres. Discovery&Research) sold 41,666 shares at $3.68 per share price.

Rigel Pharmaceuticals Inc. is a clinical-stage drug development company. The Company discovers and develops small-molecule drugs for the treatment of inflammatory and autoimmune diseases immuno-oncology related diseases and muscle disorders. Its research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. It has various product candidates in development: fostamatinib; R348; two oncology product candidates and two preclinical programs. Fostamatinib is an oral spleen tyrosine kinase (SYK) inhibitor. R348 is a topical janus kinase (JAK)/SYK inhibitor. It is conducting research in the disease areas of inflammation/immunology and muscle wasting/muscle endurance.

Rigel Pharmaceuticals

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