Rigel Pharmaceuticals (RIGL) is Reiterated by H.C. Wainwright to Buy, Raises Price Target to $ 7

Rigel Pharmaceuticals (RIGL) was Reiterated by H.C. Wainwright to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 7 from a previous price target of $6 . H.C. Wainwright advised their investors in a research report released on Aug 31, 2016.

Many Wall Street Analysts have commented on Rigel Pharmaceuticals. Company shares were Reiterated by Piper Jaffray on Aug 30, 2016 to “Overweight”, Firm has raised the Price Target to $ 11 from a previous price target of $10 .H.C. Wainwright Initiated Rigel Pharmaceuticals on Jul 13, 2016 to “Buy”, Price Target of the shares are set at $6.Rigel Pharmaceuticals was Initiated by Piper Jaffray to “Overweight” on Jun 13, 2016.

On the company’s financial health, Rigel Pharmaceuticals reported $-0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.20. The company had revenue of $8.60 million for the quarter, compared to analysts expectations of $4.41 million. The company’s revenue was up 65.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.16 EPS.

Rigel Pharmaceuticals opened for trading at $2.61 and hit $2.74 on the upside on Monday, eventually ending the session at $2.64, with a gain of 1.15% or 0.03 points. The heightened volatility saw the trading volume jump to 19,46,417 shares. Company has a market cap of $250 M.

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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