Recent Investment Analysts’ Ratings Changes for Rigel Pharmaceuticals (RIGL)
A number of firms have modified their ratings and price targets on shares of Rigel Pharmaceuticals (NASDAQ: RIGL) recently:
- 9/16/2016 – Rigel Pharmaceuticals had its “buy” rating reaffirmed by analysts at Jefferies Group. They now have a $9.00 price target on the stock, up previously from $8.50.
- 9/15/2016 – Rigel Pharmaceuticals was given a new $11.00 price target on by analysts at Piper Jaffray Cos.. They now have a “buy” rating on the stock. They wrote, “Celsion announced that the independent Data Safety Monitoring Board (DSMB) has reviewed the data from the first three cohorts (N=9) of patients treated with GEN-1 (DNA-based IL-12) in the phase Ib Ovation study (ovarian cancer) and recommended that the study proceed to treating the fourth and final cohort.””
- 9/15/2016 – Rigel Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright.
- 8/31/2016 – Rigel Pharmaceuticals had its price target raised by analysts at HC Wainwright from $6.00 to $7.00. They now have a “buy” rating on the stock.
- 8/30/2016 – Rigel Pharmaceuticals had its price target raised by analysts at Piper Jaffray Cos. from $10.00 to $11.00. They now have an “overweight” rating on the stock.
- 8/30/2016 – Rigel Pharmaceuticals had its price target raised by analysts at BMO Capital Markets from $4.00 to $6.00. They now have an “outperform” rating on the stock.
- 8/17/2016 – Rigel Pharmaceuticals had its “buy” rating reaffirmed by analysts at Piper Jaffray Cos..
- 8/4/2016 – Rigel Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright.
- 8/3/2016 – Rigel Pharmaceuticals had its “buy” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $5.00 price target on the stock.
- 8/1/2016 – Rigel Pharmaceuticals is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $4.00 price target on the stock. They wrote, “significant upside to shares.” The analyst was especially hopeful for the near-term data readout for lead drug Fostamatinib in immune thrombocytopenic purpura (ITP), which “could be transformative for Rigel.”The analyst based his hopes on the “highly convincing Phase II results, where 50 percent of chronic ITP patients saw a sustained platelet response and in a disease with a limited placebo effect.”Signing With Ex-U.S. Partner Following Phase IIIAdditionally, Kim expects Rigel Pharma would sign an agreement with an international partner, which would further validate Fostamatinib market opportunity after a successful phase II trial. Related Link: Seres Therapeutics’ Pipeline Setback Triggers Price Target From GoldmanBest Case $9.00, Worst Case $4.00″In our scenario analysis of the ITP data, we believe a best case outcome of significant >38 percent durable response rate would increase our DCF valuation to $9, versus a worst case of study failure resulting in shares likely trading near cash levels of $1 per share,”
Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) traded down 0.57% during midday trading on Wednesday, hitting $3.48. 930,196 shares of the company traded hands. The stock’s 50-day moving average price is $3.08 and its 200 day moving average price is $2.56. Rigel Pharmaceuticals Inc. has a 12-month low of $1.88 and a 12-month high of $4.06. The company’s market capitalization is $329.17 million.
Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. Rigel Pharmaceuticals had a negative net margin of 143.24% and a negative return on equity of 59.78%. The business had revenue of $8.60 million for the quarter, compared to analyst estimates of $3.75 million. During the same period last year, the business posted ($0.16) earnings per share. The firm’s quarterly revenue was up 65.4% on a year-over-year basis. On average, equities analysts forecast that Rigel Pharmaceuticals Inc. will post ($0.77) EPS for the current year.
Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovery and development of targeted drugs in the therapeutic areas of immunology, oncology and immuno-oncology. The Company’s clinical programs include fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, which is in Phase III clinical trials for immune thrombocytopenic purpura (ITP); a Phase II clinical trial for autoimmune hemolytic anemia (AIHA), and a Phase II clinical trial for IgA nephropathy (IgAN).
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