Rigel Pharmaceuticals, Inc (NASDAQ:RIGL) Receives Average Rating

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Dallas, Texas 03/26/2014 (FINANCIALSTRENDS) – Rigel Pharmaceuticals, Inc (NASDAQ:RIGL) has now received an average rating of “Hold” from 10 brokerages which are currently covering the company stock. Seven research-analysts have assigned a “hold” rating on Rigel Pharmaceuticals, Inc (NASDAQ:RIGL) and 3 have assigned a “buy” rating on Rigel Pharmaceuticals, Inc (NASDAQ:RIGL). The average 12-month price-target amongst brokers who have covered the Rigel Pharmaceuticals, Inc (NASDAQ:RIGL) stock in the past 1 year is $7.43. Separately, the Jefferies Group analysts have upped their price target on Rigel Pharmaceuticals, Inc (NASDAQ:RIGL) shares from $6.00 up to $10.00 in the research note on 6 March and they currently have a “buy” rating on the company stock.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released the company’s earnings-data on 4, March. It reported earnings per share of $0.19 for the quarter, which topped the average analysts’ projection of $0.25 by $0.06. Rigel Pharmaceuticals, Inc (NASDAQ:RIGL) reported revenue of $5.80M for the quarter. In the same quarter of the previous year, Rigel Pharmaceuticals, Inc (NASDAQ:RIGL) posted earnings per share of $0.30. Rigel Pharmaceuticals, Inc (NASDAQ:RIGL)’s revenue rose 57400.0% in comparison to the same quarter of the previous year. On an average, analysts project that Rigel Pharmaceuticals, Inc (NASDAQ:RIGL) will post earnings per share of $-1.06 for the current financial year.

Rigel Pharmaceuticals, Inc (NASDAQ:RIGL) is a clinical-stage drug-development company. It discovers & develops small-molecule-drugs to treatment inflammatory & autoimmune diseases, and muscle disorders. Rigel Pharmaceuticals, Inc (NASDAQ:RIGL)’s research focuses on the intracellular signaling pathways & related targets that are very critical to disease mechanisms. In Dec 2012, Rigel Pharmaceuticals, Inc (NASDAQ:RIGL) initiated the Phase-1 clinical study of R348, the topical ophthalmic-JAK/SYK inhibitor, as the potential therapeutic for its chronic dry eye. In Dec 2012, AZ released its top-line results of the OSKIRA-4, the Phase 2b monotherapy-study of fostamatinib that is in development as the oral treatment for RA.

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