Rigel Receives a Buy from H.C. Wainwright

By Jason Carr

H.C. Wainwright analyst Shaunak Deepak reiterated a Buy rating on Rigel (NASDAQ: RIGL) today and set a price target of $5. The company’s shares closed yesterday at $2.73.

According to TipRanks.com, Deepak is a 1-star analyst with an average return of -6.2% and a 42.4% success rate. Deepak covers the Healthcare sector, focusing on stocks such as Lexicon Pharmaceuticals, Karyopharm Therapeutics, and Mirna Therapeutics Inc.

Rigel has an analyst consensus of Moderate Buy, with a price target consensus of $5.

The company has a one year high of $4.38 and a one year low of $1.88. Currently, Rigel has an average volume of 1.01M.

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Rigel Pharmaceuticals, Inc. is a clinical stage drug development company. It discovers and develops novel, targeted drugs in the therapeutic areas of immunology, oncology and immune oncology. The company focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Its current product development programs include Fostamatinib Oral SYK Inhibitor and R348 Topical Ophthalmic JAK/SYK Inhibitor. Rigel Pharmaceuticals was founded by Donald G. Payan, Garry P. Nolan and Ronald B. Garren on June 14, 1996 and is headquartered in South San Francisco, CA.