Shares of Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) have earned an average rating of “Buy” from the seven analysts that are covering the firm. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $7.75.

RIGL has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on Rigel Pharmaceuticals in a research note on Monday, August 1st. They set an “outperform” rating and a $4.00 target price for the company. JPMorgan Chase & Co. reissued a “buy” rating and set a $5.00 target price on shares of Rigel Pharmaceuticals in a research note on Wednesday, August 3rd. HC Wainwright reissued a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Thursday, August 4th. Piper Jaffray Cos. reissued a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, August 17th. Finally, Jefferies Group reissued a “buy” rating and set a $9.00 target price (up previously from $8.50) on shares of Rigel Pharmaceuticals in a research note on Friday, September 16th.

Shares of Rigel Pharmaceuticals (NASDAQ:RIGL) traded down 3.86% during mid-day trading on Monday, hitting $2.74. 114,924 shares of the company were exchanged. The firm has a 50 day moving average of $2.96 and a 200 day moving average of $2.80. The company’s market capitalization is $271.09 million. Rigel Pharmaceuticals has a 12-month low of $1.88 and a 12-month high of $4.38.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its earnings results on Tuesday, November 1st. The company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.01. The business had revenue of $3.76 million for the quarter, compared to analyst estimates of $3.97 million. Rigel Pharmaceuticals had a negative return on equity of 86.54% and a negative net margin of 255.84%. The firm’s revenue was down 71.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. Equities research analysts forecast that Rigel Pharmaceuticals will post ($0.74) earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in shares of Rigel Pharmaceuticals by 0.7% in the third quarter. California State Teachers Retirement System now owns 196,683 shares of the company’s stock valued at $722,000 after buying an additional 1,400 shares during the last quarter. American International Group Inc. boosted its stake in shares of Rigel Pharmaceuticals by 3.8% in the second quarter. American International Group Inc. now owns 53,611 shares of the company’s stock valued at $120,000 after buying an additional 1,987 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Rigel Pharmaceuticals by 2.6% in the second quarter. Alliancebernstein L.P. now owns 116,140 shares of the company’s stock valued at $259,000 after buying an additional 2,900 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Rigel Pharmaceuticals by 2.6% in the second quarter. Parametric Portfolio Associates LLC now owns 129,067 shares of the company’s stock valued at $288,000 after buying an additional 3,299 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Rigel Pharmaceuticals by 5.5% in the second quarter. ProShare Advisors LLC now owns 79,983 shares of the company’s stock valued at $178,000 after buying an additional 4,141 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovery and development of targeted drugs in the therapeutic areas of immunology, oncology and immuno-oncology. The Company’s clinical programs include fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, which is in Phase III clinical trials for immune thrombocytopenic purpura (ITP); a Phase II clinical trial for autoimmune hemolytic anemia (AIHA), and a Phase II clinical trial for IgA nephropathy (IgAN).

5 Day Chart for NASDAQ:RIGL

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