Rigel Pharmaceuticals (RIGL) Lifted to “Hold” at BidaskClub

Rigel Pharmaceuticals (NASDAQ:RIGL) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday, January 4th.

Several other research analysts have also commented on RIGL. ValuEngine upgraded Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. Jefferies Group reiterated a “buy” rating and set a $5.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. BMO Capital Markets restated a “buy” rating and issued a $5.00 price objective on shares of Rigel Pharmaceuticals in a report on Monday, October 2nd. Finally, Cantor Fitzgerald assumed coverage on shares of Rigel Pharmaceuticals in a report on Thursday, December 14th. They issued an “overweight” rating and a $6.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Rigel Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $5.54.

Shares of Rigel Pharmaceuticals (RIGL) opened at $4.23 on Thursday. Rigel Pharmaceuticals has a one year low of $1.94 and a one year high of $4.47. The stock has a market cap of $640.87, a price-to-earnings ratio of -7.17 and a beta of 1.28.

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

In other Rigel Pharmaceuticals news, CFO Ryan D. Maynard sold 100,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $3.90, for a total transaction of $390,000.00. Following the sale, the chief financial officer now directly owns 100,000 shares in the company, valued at $390,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.21% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. Rhumbline Advisers grew its position in shares of Rigel Pharmaceuticals by 6.0% during the second quarter. Rhumbline Advisers now owns 139,814 shares of the biotechnology company’s stock worth $382,000 after buying an additional 7,910 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Rigel Pharmaceuticals by 0.8% during the second quarter. JPMorgan Chase & Co. now owns 1,461,550 shares of the biotechnology company’s stock worth $3,990,000 after buying an additional 11,836 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Rigel Pharmaceuticals by 30.4% during the second 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 in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Rigel Pharmaceuticals by 16.2% during the second quarter. The Manufacturers Life Insurance Company now owns 99,023 shares of the biotechnology company’s stock worth $270,000 after buying an additional 13,838 shares in the last quarter. Finally, Teachers Advisors LLC grew its position in shares of Rigel Pharmaceuticals by 6.7% during the second quarter. Teachers Advisors LLC now owns 297,167 shares of the biotechnology company’s stock worth $811,000 after buying an additional 18,614 shares in the last quarter. 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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