Rigel Pharmaceuticals (NASDAQ:RIGL) Raised to “Hold” at ValuEngine

Rigel Pharmaceuticals (NASDAQ:RIGL) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, February 7th.

A number of other analysts have also recently issued reports on the company. Zacks Investment Research raised 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. HC Wainwright set a $7.00 target price on Rigel Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, December 11th. BidaskClub lowered Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 19th. Piper Jaffray Companies reiterated an “overweight” rating and set a $6.00 price objective on shares of Rigel Pharmaceuticals in a research report on Thursday, December 21st. Finally, Cantor Fitzgerald began coverage on Rigel Pharmaceuticals in a research report on Thursday, December 14th. They set an “overweight” rating and a $6.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $5.54.

Shares of Rigel Pharmaceuticals (NASDAQ RIGL) opened at $3.67 on Wednesday. Rigel Pharmaceuticals has a 1-year low of $2.14 and a 1-year high of $4.71.

A number of hedge funds have recently modified their holdings of RIGL. BlackRock Inc. boosted its holdings in Rigel Pharmaceuticals by 20.7% during the 4th quarter. BlackRock Inc. now owns 11,225,669 shares of the biotechnology company’s stock valued at $43,556,000 after acquiring an additional 1,924,998 shares during the period. EAM Investors LLC purchased a new stake in Rigel Pharmaceuticals during the 4th quarter valued at about $1,845,000. Renaissance Technologies LLC boosted its holdings in Rigel Pharmaceuticals by 179.6% during the 4th quarter. Renaissance Technologies LLC now owns 647,826 shares of the biotechnology company’s stock valued at $2,514,000 after acquiring an additional 416,090 shares during the period. Vanguard Group Inc. boosted its holdings in Rigel Pharmaceuticals by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,039,790 shares of the biotechnology company’s stock valued at $16,489,000 after acquiring an additional 348,755 shares during the period. Finally, Swiss National Bank purchased a new stake in Rigel Pharmaceuticals in the 4th quarter worth approximately $891,000. Institutional investors own 74.08% 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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Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

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