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H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Rigel (RIGL) today and set a price target of $11.00. The company’s shares closed last Thursday at $5.01, close to its 52-week high of $5.24.
According to TipRanks.com, Pantginis is a top 25 analyst with an average return of 59.9% and a 75.5% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Catabasis Pharmaceuticals, and Lineage Cell Therapeutics.
Currently, the analyst consensus on Rigel is a Moderate Buy with an average price target of $9.50, which is a 78.6% upside from current levels. In a report released today, Piper Sandler also maintained a Buy rating on the stock with a $8.00 price target.
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Rigel’s market cap is currently $765.5M and has a P/E ratio of -29.70. The company has a Price to Book ratio of 14.79.
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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. The firm focuses on intracellular signalling pathways and related targets that are critical to disease mechanisms. Its products include Tavalisse, Fostamatinib and R835. The company was founded by Donald G. Payan, James M. Gower, Thomas A. Raffin, Garry P. Nolan and Ronald B. Garren on June 14, 1996 and is headquartered in South San Francisco, CA.
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