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RIGL

Rigel Pharmaceuticals

$2.54

0.22 (9.48%)

09:04
10/02/17
10/02
09:04
10/02/17
09:04

Technical View: Rigel Pharmaceuticals gaps-up, FDA review of Fostamatinib update

The stock was last up over 22% to $3.10 on heavy pre-market volume. At that price next resistance is at $3.43. Support is at $2.86. The 52-week high for the shares is at $4.38.

RIGL Rigel Pharmaceuticals
$2.54

0.22 (9.48%)

10/20/16
JPMS
10/20/16
NO CHANGE
JPMS
Overweight
Rigel has 20%-40% near-term downside, says JPMorgan
JPMorgan analyst Anupam Rama believes shares of Rigel Pharmaceuticals now have a regulatory uncertainty overhang after the company's second phase 3 trial of fostamatinib in immune thrombocytopenic missed statistical significance on its primary endpoint.There could ultimately be a registration path forward with combined phase 3 dataset, however, Rama tells investors in a research note. Nonetheless, the analyst sees the potential for 20%-40% share downside in the near-term. Rama has an Overweight rating on Rigel. The stock is down 34% to $2.11 in pre-market trading.
10/20/16
PIPR
10/20/16
NO CHANGE
PIPR
Overweight
Rigel Pharmaceuticals risk/reward remains favorable, says Piper Jaffray
With the stock down nearly 35% in pre-market trading, Piper Jaffray analyst Joshua Schimmer believes the risk/reward on shares of Rigel Pharmaceuticals remains favorable. The company on the conference call did an "excellent job" explaining the failed second Phase III results for fostamatinib in immune thrombocytopenic, Schimmer tells investors in a research note. He believes the drug has a "clear therapeutic benefit" and reiterates an Overweight rating on the stock with an $11 price target.
12/21/16
PIPR
12/21/16
NO CHANGE
PIPR
Piper lays out top BioPharma picks for 2017
Piper Jaffray analysts laid out their top BioPharma picks for 2017. Analyst Richard Purkiss favors Pfizer (PFE) and Eli Lilly (LLY) as his top large pharma picks. Analyst Joshua Schimmer calls Gilead (GILD) and Alexion (ALXN) his top large cap picks. Analyst David Amsellem names Horizon Pharma (HZNP) his top specialty pharma pick. Piper's other top Biopharma picks for 2017 include ACADIA (ACAD), Aimmune (AIMT), Akorn (AKRX), Alnylam (ALNY), Axovant Sciences (AXON), Cara Therapeutics (CARA), CoLucid Pharmaceuticals (CLCD), Eale Pharmaceuticals (EGRX), Exelixis (EXEL), Ionis Pharmaceuticals (IONS), Mallinckrodt (MNK), Neurocrine (NBIX), Nektar (NKTR), Otonomy (OTIC), Reata Pharmaceuticals (RETA), Rigel Pharmaceuticals (RIGL), Ignyta (RXDX), Theravance Biopharma (TBPH), Versartis (VSAR) and Voyager Therapeutics (VYGR). The analysts look for recent momentum in BioPharma to continue in 2017. They believe innovation and potentially repatriation should lead to increased merger activity.
06/20/17
BMOC
06/20/17
NO CHANGE
BMOC
Rigel Pharmaceuticals price target raised to $5 from $4 at BMO Capital
BMO Capital analyst Do Kim increased the price target on Rigel after the FDA accepted the company's NDA filing for its Tavalisse drug in chronic ITP. As a result of the news, the analyst raised the estimate of the chances of the drug being successful to 80% from 70%. Kim expects an FDA panel to issue a positive recommendation on the drug at the end of this year or the beginning of 2018 and recommends that investors buy the stock before such a panel is announced. Kim says that the panel could be announced in the fall. Kim raised the price target on the shares to $5 from 44 and keeps an Outperform rating.

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