Biotech penny stock trading at nearly half its price target set to announce earnings after March 2nd market close
Rigel Pharmaceuticals, Inc. (RIGL). Currently sitting at $4.45 while its PTs range from 7-11, 100% Buy. These guys have had a lot of positive announcements lately including:
* A deal with Eli Lilly on an autoimmune therapy that includes an up-front payment that is roughly equal to their last four years of revenue and additional milestone payments that exceed their current market cap.
* An award from the U.S. Department of Defense to support Rigel's trial to evaluate one of their drugs in the treatment of COVID-19.
* Fast track designation from the FDA for a drug that is in a Phase 3 trial to treat a rare blood disorder.
Not a lot of times you can find a penny bio with real revenue (and strong growth), plenty of cash, and a strong pipeline. This could lift off today if they announce strong results or drop more positive news.
Disclaimer: not investment advice, currently holding RIGL shares
[https://ir.rigel.com/news-events/events-presentations/detail/6127/fourth-quarter-and-year-end-2020-financial-results](https://ir.rigel.com/news-events/events-presentations/detail/6127/fourth-quarter-and-year-end-2020-financial-results)
https://www.reddit.com/r/StockMarket/comments/lvy59t/biotech_penny_stock_trading_at_nearly_half_its/
