Piper Sandler Maintains Neutral Rating for Rigel Pharmaceuticals: Here's What You Need To Know

Piper Sandler has decided to maintain its Neutral rating of Rigel Pharmaceuticals RIGL and raise its price target from $1.00 to $2.00.

Shares of Rigel Pharmaceuticals are trading up 1.12% over the last 24 hours, at $1.58 per share.

A move to $2.00 would account for a 26.78% increase from the current share price.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals Inc develops small-molecule drugs for autoimmune, cancer-related, and viral diseases. The firm's lead drug is an oral rheumatoid arthritis drug candidate that has been licensed to AstraZeneca. Astra has taken overall responsibility to develop and market the drug and will pay Rigel royalties and milestone payments. Its pipeline product includes TAVALISSE (fostamatinib disodium hexahydrate) tablets, the only oral spleen tyrosine kinase (SYK) inhibitor, Fostamatinib, R552, R835, DS-3032, THF-beta Inhibitors, and AZD0449- Inhaled JAK Inhibitor.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.