Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have been given an average rating of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $5.31.
Several research firms have recently issued reports on RIGL. ValuEngine upgraded shares of Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a report on Saturday, November 11th. Jefferies Group LLC restated a “buy” rating and set a $5.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, October 4th. BMO Capital Markets restated a “buy” rating and set a $5.00 price objective on shares of Rigel Pharmaceuticals in a report on Monday, October 2nd. Finally, HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Rigel Pharmaceuticals in a report on Monday, November 6th.
Shares of Rigel Pharmaceuticals (NASDAQ RIGL) traded up $0.04 during trading on Thursday, reaching $3.78. 2,158,000 shares of the company’s stock were exchanged, compared to its average volume of 1,215,694. Rigel Pharmaceuticals has a fifty-two week low of $1.94 and a fifty-two week high of $4.33.
Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 102.26%. The firm had revenue of $0.90 million for the quarter. During the same quarter last year, the company earned ($0.24) EPS. The business’s revenue was down 76.1% compared to the same quarter last year. equities analysts predict that Rigel Pharmaceuticals will post -0.58 EPS for the current fiscal year.
In related news, CFO Ryan D. Maynard sold 100,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $3.90, for a total value of $390,000.00. Following the transaction, the chief financial officer now owns 100,000 shares in the company, valued at approximately $390,000. The sale was disclosed in a filing with the SEC, which is available through this link. 5.21% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC increased its holdings in Rigel Pharmaceuticals by 11.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock worth $102,000 after buying an additional 3,118 shares during the period. AXA acquired a new position in Rigel Pharmaceuticals in the 2nd quarter worth approximately $122,000. Voya Investment Management LLC increased its holdings in Rigel Pharmaceuticals by 30.4% in the 2nd quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock worth $146,000 after buying an additional 12,500 shares during the period. SG Americas Securities LLC increased its holdings in Rigel Pharmaceuticals by 415.2% in the 3rd quarter. SG Americas Securities LLC now owns 59,401 shares of the biotechnology company’s stock worth $151,000 after buying an additional 47,872 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in Rigel Pharmaceuticals in the 2nd quarter worth approximately $193,000. Institutional investors own 75.42% of the company’s stock.
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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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