.jpg "Rigel (NASDAQ: RIGL)")
In a report released today, Elemer Piros from Cantor Fitzgerald maintained a Buy rating on Rigel (RIGL), with a price target of $9. The company’s shares closed yesterday at $2.02, close to its 52-week low of $1.96.
Piros observed:
“We believe Rigel is poised to achieved meaningful commercial sales of TAVALISSE in immune thrombocytopenia. In addition to ITP, we see expansion opportunities in AIHA and IgAN. Valuation Summary We arrive at our 12-month price target of $9/share by assessing the after-tax, risk- adjusted NPV of potential future cash flows from fostamatinib for immune-related disorders.”
According to TipRanks.com, Piros has currently no stars on a ranking scale of 0-5 stars, with an average return of -10.7% and a 36.4% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Rigel with a $8.13 average price target, a 302.5% upside from current levels. In a report issued on January 11, H.C. Wainwright also reiterated a Buy rating on the stock with a $7.50 price target.
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The company has a one-year high of $4.68 and a one-year low of $1.96. Currently, Rigel has an average volume of 2.23M.
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Rigel Pharmaceuticals, Inc. operates as a clinical stage biotechnology company. It discovers and develops novel, targeted drugs in the therapeutic areas of immunology, oncology and immune oncology. It focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms.
