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Fly News Breaks for August 9, 2018
RIGL
Aug 9, 2018 | 11:18 EDT
H.C. Wainwright analyst Joseph Pantginis notes that Rigel Pharmaceuticals announced Q2 results and, following the May 29 launch of Tavalisse, reported revenue for four weeks for the quarter of $1.8M, compared with his estimate of $140k and consensus of $180k, representing an encouraging beat with only this small time of selling. The analyst believes that having the full sales and marketing infrastructure in place at the time of launch contributed greatly to the early success. He reiterates a Buy rating and $7.50 price target on the shares.
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