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Shares of Rigel Pharmaceuticals (NASDAQ:RIGL) fell 7.7% on Tuesday following a weaker than expected earnings announcement, Stock Ratings News reports. The company traded as low as $3.05 and last traded at $3.13, with a volume of 430,020 shares changing hands. The stock had previously closed at $3.39.

The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by $0.04. During the same quarter in the previous year, the company posted ($0.26) earnings per share.

The stock has a 50-day moving average of $3.5 and a 200-day moving average of $3.48. The company’s market cap is $277.9 million.

Rigel Pharmaceuticals, Inc is a clinical-stage drug development company. The Company discovers and develops small-molecule drugs for the treatment of inflammatory and autoimmune diseases, as well as muscle disorders.

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