Rigel (RIGL) Receives a Rating Update from a Top Analyst

In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Rigel (RIGLResearch Report), with a price target of $11.00. The company’s shares closed last Tuesday at $3.46.

According to TipRanks.com, Pantginis is a top 100 analyst with an average return of 41.1% and a 61.4% 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 Strong Buy with an average price target of $8.75.

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The company has a one-year high of $5.50 and a one-year low of $1.45. Currently, Rigel has an average volume of 3.79M.

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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.