Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Analysts at Cantor Fitzgerald cut their FY2018 earnings per share estimates for Rigel Pharmaceuticals in a research note issued on Wednesday. Cantor Fitzgerald analyst E. Piros now forecasts that the biotechnology company will post earnings of ($0.73) per share for the year, down from their prior estimate of ($0.65). Cantor Fitzgerald has a “Buy” rating and a $7.00 price objective on the stock.
Other equities analysts have also recently issued reports about the company. HC Wainwright set a $7.00 price target on Rigel Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, December 11th. BidaskClub upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. ValuEngine upgraded Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $6.00 price target on shares of Rigel Pharmaceuticals in a report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $5.71.
Rigel Pharmaceuticals (NASDAQ RIGL) traded up $0.02 during midday trading on Monday, hitting $4.19. The stock had a trading volume of 163,055 shares, compared to its average volume of 1,236,697. The stock has a market cap of $622.59, a PE ratio of -6.84 and a beta of 1.29. Rigel Pharmaceuticals has a fifty-two week low of $2.14 and a fifty-two week high of $4.71.
Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its earnings results on Tuesday, March 6th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.05). During the same quarter in the prior year, the firm posted ($0.16) earnings per share.
A number of institutional investors and hedge funds have recently bought and sold shares of RIGL. Wells Fargo & Company MN lifted its stake in Rigel Pharmaceuticals by 70.6% during the 2nd quarter. Wells Fargo & Company MN now owns 191,217 shares of the biotechnology company’s stock worth $522,000 after acquiring an additional 79,114 shares in the last quarter. Northern Trust Corp lifted its stake in Rigel Pharmaceuticals by 7.8% during the 2nd quarter. Northern Trust Corp now owns 1,467,524 shares of the biotechnology company’s stock worth $4,006,000 after acquiring an additional 106,148 shares in the last quarter. Vanguard Group Inc. lifted its stake in Rigel Pharmaceuticals by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,039,790 shares of the biotechnology company’s stock worth $16,489,000 after acquiring an additional 348,755 shares in the last quarter. Voya Investment Management LLC lifted its stake in Rigel Pharmaceuticals by 30.4% during the 2nd quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock worth $146,000 after acquiring an additional 12,500 shares in the last quarter. Finally, State Street Corp lifted its stake in Rigel Pharmaceuticals by 4.3% during the 2nd quarter. State Street Corp now owns 2,188,997 shares of the biotechnology company’s stock worth $5,974,000 after acquiring an additional 90,640 shares in the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.
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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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