Rigel Pharmaceuticals (RIGL) Given a $8.00 Price Target at HC Wainwright

HC Wainwright set a $8.00 target price on Rigel Pharmaceuticals (NASDAQ:RIGL) in a research report report published on Wednesday morning. The firm currently has a buy rating on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on the stock. Cantor Fitzgerald set a $6.00 target price on shares of Rigel Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday. Piper Jaffray raised their price objective on shares of Rigel Pharmaceuticals from $6.00 to $7.00 and gave the company an overweight rating in a research report on Tuesday. BidaskClub lowered shares of Rigel Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, March 15th. Zacks Investment Research lowered shares of Rigel Pharmaceuticals from a hold rating to a sell rating in a research report on Saturday, March 10th. Finally, ValuEngine upgraded shares of Rigel Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $6.71.

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Shares of NASDAQ:RIGL opened at $3.88 on Wednesday. Rigel Pharmaceuticals has a twelve month low of $2.14 and a twelve month 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 for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05). During the same period in the previous year, the company posted ($0.16) EPS. sell-side analysts expect that Rigel Pharmaceuticals will post -0.68 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. bought a new stake in Rigel Pharmaceuticals during the fourth quarter valued at approximately $105,000. Quantitative Investment Management LLC bought a new stake in Rigel Pharmaceuticals during the fourth quarter valued at approximately $109,000. SG Americas Securities LLC lifted its position in Rigel Pharmaceuticals by 415.2% during 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. Teacher Retirement System of Texas bought a new stake in Rigel Pharmaceuticals during the fourth quarter valued at approximately $181,000. Finally, Mackenzie Financial Corp lifted its position in Rigel Pharmaceuticals by 42.5% during the fourth quarter. Mackenzie Financial Corp now owns 64,062 shares of the biotechnology company’s stock valued at $249,000 after purchasing an additional 19,091 shares during the last quarter. Institutional investors own 92.33% of the company’s stock.

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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)

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