Rigel Pharmaceuticals (RIGL) Raised to Hold at BidaskClub

Rigel Pharmaceuticals (NASDAQ:RIGL) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday.

Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a report on Saturday, November 11th. HC Wainwright set a $7.00 target price on shares of Rigel Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, December 11th. ValuEngine cut shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 6th. Cantor Fitzgerald began coverage on shares of Rigel Pharmaceuticals in a research note on Thursday, December 14th. They issued an “overweight” rating and a $6.00 target price for the company. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $6.00 target price on shares of Rigel Pharmaceuticals in a research note on Thursday, December 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $5.54.

Shares of Rigel Pharmaceuticals (RIGL) opened at $4.05 on Thursday. The company has a market cap of $580.10, a P/E ratio of -6.86 and a beta of 1.28. Rigel Pharmaceuticals has a fifty-two week low of $1.94 and a fifty-two week high of $4.47.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. The company had revenue of $0.90 million for the quarter. The business’s revenue for the quarter was down 76.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.24) EPS. equities research analysts forecast that Rigel Pharmaceuticals will post -0.56 EPS for the current fiscal year.

In other Rigel Pharmaceuticals news, CFO Ryan D. Maynard sold 100,000 shares of Rigel Pharmaceuticals 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 completion of the sale, the chief financial officer now directly owns 100,000 shares in the company, valued at $390,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.21% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of RIGL. Vanguard Group Inc. lifted its stake in Rigel Pharmaceuticals by 6.1% in the second 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 last quarter. Wells Fargo & Company MN raised its position in shares of Rigel Pharmaceuticals by 116.9% in the third quarter. Wells Fargo & Company MN now owns 414,745 shares of the biotechnology company’s stock valued at $1,053,000 after purchasing an additional 223,528 shares during the period. B. Riley Financial Inc. bought a new position in shares of Rigel Pharmaceuticals in the second quarter valued at approximately $554,000. Paulson & CO. Inc. raised its position in shares of Rigel Pharmaceuticals by 20.4% in the second quarter. Paulson & CO. Inc. now owns 662,056 shares of the biotechnology company’s stock valued at $1,807,000 after purchasing an additional 112,056 shares during the period. Finally, Northern Trust Corp raised its position in shares of Rigel Pharmaceuticals by 7.8% in the second quarter. Northern Trust Corp now owns 1,467,524 shares of the biotechnology company’s stock valued at $4,006,000 after purchasing an additional 106,148 shares during the period. Hedge funds and other institutional investors own 74.51% of the company’s stock.

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Rigel Pharmaceuticals Company Profile

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.

Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

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