Rigel Pharmaceuticals (RIGL) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Rigel Pharmaceuticals (NASDAQ:RIGL) from a buy rating to a hold rating in a report published on Thursday, March 15th.

RIGL has been the subject of several other research reports. HC Wainwright set a $7.00 target price on Rigel Pharmaceuticals and gave the stock a buy rating in a research report on Wednesday, March 7th. ValuEngine downgraded Rigel Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, December 15th. Cantor Fitzgerald assumed coverage on Rigel Pharmaceuticals in a research report on Thursday, December 14th. They issued an overweight rating and a $6.00 target price for the company. Piper Jaffray reaffirmed an overweight rating and issued a $6.00 target price on shares of Rigel Pharmaceuticals in a research report on Thursday, December 21st. Finally, Zacks Investment Research downgraded Rigel Pharmaceuticals from a hold rating to a sell rating in a research report on Saturday, March 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $5.49.

How to Become a New Pot Stock Millionaire

RIGL stock opened at $3.33 on Thursday. Rigel Pharmaceuticals has a 12-month low of $2.14 and a 12-month high of $4.71. The stock has a market cap of $474.53, a price-to-earnings ratio of -5.37 and a beta of 1.32.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its earnings results on Tuesday, March 6th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.05). During the same period in the prior year, the firm earned ($0.16) earnings per share. equities research analysts forecast that Rigel Pharmaceuticals will post -0.68 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS Asset Management Americas Inc. purchased a new position in Rigel Pharmaceuticals in the fourth quarter valued at about $105,000. Quantitative Investment Management LLC purchased a new position in Rigel Pharmaceuticals in the fourth quarter valued at about $109,000. Voya Investment Management LLC boosted its holdings in Rigel Pharmaceuticals by 30.4% in the second quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock valued at $146,000 after purchasing an additional 12,500 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Rigel Pharmaceuticals by 415.2% in the third quarter. SG Americas Securities LLC now owns 59,401 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 47,872 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Rigel Pharmaceuticals in the fourth quarter valued at about $181,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “Rigel Pharmaceuticals (RIGL) Stock Rating Lowered by BidaskClub” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/04/08/rigel-pharmaceuticals-rigl-downgraded-by-bidaskclub-to-hold.html.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in the discovery and development of small molecule drugs for the treatment of immune and hematologic disorders, cancer, and rare diseases. The company's clinical programs include fostamatinib, an oral spleen tyrosine kinase inhibitor for immune thrombocytopenia purpura; and Phase II clinical study for autoimmune hemolytic anemia and immunoglobulin a nephropathy.

Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

Receive News & Ratings for Rigel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply