Jefferies Group LLC Reaffirms “Buy” Rating for Rigel Pharmaceuticals, Inc. (RIGL)

Jefferies Group LLC restated their buy rating on shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in a report published on Wednesday. Jefferies Group LLC currently has a $5.00 target price on the biotechnology company’s stock.

A number of other equities research analysts also recently commented on the company. BidaskClub downgraded Rigel Pharmaceuticals from a sell rating to a strong sell rating in a report on Friday, July 28th. ValuEngine downgraded Rigel Pharmaceuticals from a sell rating to a strong sell rating in a report on Wednesday, September 6th. BMO Capital Markets reiterated an outperform rating and issued a $5.00 price objective (up previously from $4.00) on shares of Rigel Pharmaceuticals in a report on Monday, June 19th. Finally, Zacks Investment Research downgraded Rigel Pharmaceuticals from a hold rating to a sell rating in a report on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Rigel Pharmaceuticals presently has an average rating of Hold and an average price target of $6.75.

Shares of Rigel Pharmaceuticals (NASDAQ RIGL) traded down 0.51% during trading on Wednesday, reaching $3.88. The company had a trading volume of 5,262,431 shares. The firm’s market capitalization is $482.64 million. Rigel Pharmaceuticals has a 52-week low of $1.94 and a 52-week high of $4.03. The company has a 50 day moving average of $2.58 and a 200-day moving average of $2.66.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 105.86%. During the same period in the prior year, the company posted ($0.15) earnings per share. Equities analysts expect that Rigel Pharmaceuticals will post ($0.60) earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Jefferies Group LLC Reaffirms “Buy” Rating for Rigel Pharmaceuticals, Inc. (RIGL)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://ledgergazette.com/2017/10/08/jefferies-group-llc-reaffirms-buy-rating-for-rigel-pharmaceuticals-inc-rigl.html.

Institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC increased its holdings in shares of Rigel Pharmaceuticals by 11.3% in the first quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 3,118 shares in the last quarter. AXA bought a new stake in shares of Rigel Pharmaceuticals in the second quarter worth about $122,000. Voya Investment Management LLC increased its holdings in shares of Rigel Pharmaceuticals by 30.4% in the second quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock worth $146,000 after acquiring an additional 12,500 shares in the last quarter. Engineers Gate Manager LP bought a ne

A number of other equities research analysts also recently commented on the company. BidaskClub downgraded Rigel Pharmaceuticals from a sell rating to a strong sell rating in a report on Friday, July 28th. ValuEngine downgraded Rigel Pharmaceuticals from a sell rating to a strong sell rating in a report on Wednesday, September 6th. BMO Capital Markets reiterated an outperform rating and issued a $5.00 price objective (up previously from $4.00) on shares of Rigel Pharmaceuticals in a report on Monday, June 19th. Finally, Zacks Investment Research downgraded Rigel Pharmaceuticals from a hold rating to a sell rating in a report on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Rigel Pharmaceuticals presently has an average rating of Hold and an average price target of $6.75.

Shares of Rigel Pharmaceuticals (NASDAQ RIGL) traded down 0.51% during trading on Wednesday, reaching $3.88. The company had a trading volume of 5,262,431 shares. The firm’s market capitalization is $482.64 million. Rigel Pharmaceuticals has a 52-week low of $1.94 and a 52-week high of $4.03. The company has a 50 day moving average of $2.58 and a 200-day moving average of $2.66.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 105.86%. During the same period in the prior year, the company posted ($0.15) earnings per share. Equities analysts expect that Rigel Pharmaceuticals will post ($0.60) earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Jefferies Group LLC Reaffirms “Buy” Rating for Rigel Pharmaceuticals, Inc. (RIGL)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://ledgergazette.com/2017/10/08/jefferies-group-llc-reaffirms-buy-rating-for-rigel-pharmaceuticals-inc-rigl.html.

Institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC increased its holdings in shares of Rigel Pharmaceuticals by 11.3% in the first quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 3,118 shares in the last quarter. AXA bought a new stake in shares of Rigel Pharmaceuticals in the second quarter worth about $122,000. Voya Investment Management LLC increased its holdings in shares of Rigel Pharmaceuticals by 30.4% in the second quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock worth $146,000 after acquiring an additional 12,500 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Rigel Pharmaceuticals in the second quarter worth about $193,000. Finally, American International Group Inc. increased its holdings in shares of Rigel Pharmaceuticals by 39.9% in the first quarter. American International Group Inc. now owns 74,900 shares of the biotechnology company’s stock worth $248,000 after acquiring an additional 21,345 shares in the last quarter. Institutional investors own 88.17% of the company’s stock.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

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