Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group LLC in a research note issued on Wednesday. They currently have a $5.00 target price on the biotechnology company’s stock. Jefferies Group LLC’s price target points to a potential upside of 28.21% from the company’s current price.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets restated a “buy” rating and set a $5.00 target price on shares of Rigel Pharmaceuticals in a report on Monday. BidaskClub lowered shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. ValuEngine lowered shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 6th. Finally, Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Rigel Pharmaceuticals currently has an average rating of “Hold” and an average price target of $6.75.

Rigel Pharmaceuticals (RIGL) traded down 0.128% on Wednesday, hitting $3.895. 2,510,826 shares of the stock were exchanged. The company has a 50-day moving average price of $2.53 and a 200-day moving average price of $2.65. Rigel Pharmaceuticals has a 52-week low of $1.94 and a 52-week high of $4.03. The firm’s market cap is $484.51 million.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing 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 105.86%. During the same quarter in the previous year, the firm earned ($0.15) EPS. On average, equities research analysts anticipate that Rigel Pharmaceuticals will post ($0.60) EPS for the current fiscal year.

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Several large investors have recently made changes to their positions in RIGL. Teachers Advisors LLC grew its position in shares of Rigel Pharmaceuticals by 26.0% during the 4th quarter. Teachers Advisors LLC now owns 213,368 shares of the biotechnology company’s stock valued at $508,000 after buying an additional 43,965 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Rigel Pharmaceuticals by 68.6% during the 1st quarter. Wells Fargo & Company MN now owns 112,103 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 45,600 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Rigel Pharmaceuticals by 29.3% during the 1st quarter. Bank of New York Mellon Corp now owns 578,414 shares of the biotechnology company’s stock valued at $1,915,000 after buying an additional 131,162 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Rigel Pharmaceuticals by 11.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 3,118 shares during the last quarter. Finally, American International Group Inc. grew its position in shares of Rigel Pharmaceuticals by 39.9% during the 1st quarter. American International Group Inc. now owns 74,900 shares of the biotechnology company’s stock valued at $248,000 after buying an additional 21,345 shares during the last quarter. 88.17% of the stock is owned by institutional investors and hedge funds.

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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