HC Wainwright Analysts Give Rigel Pharmaceuticals (NASDAQ:RIGL) a $7.00 Price Target

HC Wainwright set a $7.00 target price on Rigel Pharmaceuticals (NASDAQ:RIGL) in a report issued on Friday, January 19th. The firm currently has a buy rating on the biotechnology company’s stock.

Several other research analysts have also issued reports on RIGL. ValuEngine upgraded shares of Rigel Pharmaceuticals from a strong sell rating to a sell rating in a research report on Monday, October 2nd. Jefferies Group reiterated a buy rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, October 4th. BMO Capital Markets reiterated a buy rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a research report on Monday, October 2nd. Finally, BidaskClub raised shares of Rigel Pharmaceuticals from a sell rating to a hold rating in a research note on Thursday, January 4th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $5.54.

Rigel Pharmaceuticals (NASDAQ:RIGL) traded up $0.13 on Friday, hitting $3.80. 931,746 shares of the stock were exchanged, compared to its average volume of 1,310,000. The stock has a market cap of $556.67, a price-to-earnings ratio of -6.44 and a beta of 1.29. Rigel Pharmaceuticals has a 12-month low of $2.14 and a 12-month high of $4.71.

Several large investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC raised its stake in shares of Rigel Pharmaceuticals by 8.8% during the fourth quarter. TIAA CREF Investment Management LLC now owns 332,026 shares of the biotechnology company’s stock valued at $1,288,000 after acquiring an additional 26,890 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Rigel Pharmaceuticals by 16.8% during the fourth quarter. Teachers Advisors LLC now owns 265,727 shares of the biotechnology company’s stock valued at $1,031,000 after acquiring an additional 38,260 shares during the last quarter. Bain Capital Public Equity Management LLC bought a new position in shares of Rigel Pharmaceuticals during the fourth quarter valued at about $1,207,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Rigel Pharmaceuticals during the fourth quarter valued at about $272,000. Finally, California State Teachers Retirement System raised its stake in shares of Rigel Pharmaceuticals by 16.8% during the fourth quarter. California State Teachers Retirement System now owns 233,174 shares of the biotechnology company’s stock valued at $905,000 after acquiring an additional 33,507 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

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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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