.jpg "Rigel (RIGL) Receives a Buy from Cantor Fitzgerald")
In a report released yesterday, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Rigel (RIGL), with a price target of $7. The company’s shares closed yesterday at $2.19, close to its 52-week low of $1.96.
Piros observed:
“. We are reiterating our Overweight rating and lowering our 12-month price target to $7/share from $9/share, following earnings from 4Q18/2018. Important milestones in 2019 will include quarterly revenues for TAVALISSE for the treatment of immune thrombocytopenia (ITP) and a European approval decision, expected by year-end. Rigel could receive an additional payment of $20 million and additional milestone and royalty payments from Grifols (GRFS – NC), if approved.”
According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.4% and a 43.1% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.
Rigel has an analyst consensus of Strong Buy, with a price target consensus of $8.75.
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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 2.34M.
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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.
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