Analyst Rating Update on Rigel Pharmaceuticals (RIGL)

Rigel Pharmaceuticals (RIGL) : 5 analysts are covering Rigel Pharmaceuticals (RIGL) and their average rating on the stock is 1, which is read as a Strong Buy. 5 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels.

Rigel Pharmaceuticals (RIGL) stock is expected to deviate a maximum of $2.41 from the average target price of $6.6 for the short term period. 5 Street Experts have initiated coverage on the stock with the most promising target being $10 and the most muted being $4.

For the current week, the company shares have a recommendation consensus of Buy. Also, H.C. Wainwright initiates coverage on Rigel Pharmaceuticals (NASDAQ:RIGL).The analysts at the brokerage house have a current rating of Buy on the shares. The rating by the firm was issued on July 13, 2016.


Rigel Pharmaceuticals (NASDAQ:RIGL): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.79 and $2.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.89. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.87, notching a gain of 13.89% for the day. The total traded volume was 3,541,991 . The stock had closed at $2.52 on the previous day.

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.

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