Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group LLC in a research report issued to clients and investors on Wednesday. They presently have a $5.00 price target on the biotechnology company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 54.80% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets reiterated a “buy” rating and set a $5.00 price target on shares of Rigel Pharmaceuticals in a report on Monday. BidaskClub cut shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. ValuEngine cut shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $6.05.

Rigel Pharmaceuticals (NASDAQ RIGL) traded up 8.36% during midday trading on Wednesday, hitting $3.50. The stock had a trading volume of 2,477,401 shares. The company’s 50-day moving average price is $2.45 and its 200 day moving average price is $2.63. Rigel Pharmaceuticals has a 12-month low of $1.94 and a 12-month high of $4.11. The stock’s market cap is $435.37 million.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.01). Rigel Pharmaceuticals had a negative return on equity of 105.86% and a negative net margin of 354.14%. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. On average, equities research analysts predict that Rigel Pharmaceuticals will post ($0.60) earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC grew its holdings in Rigel Pharmaceuticals by 11.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 3,118 shares during the last quarter. AXA acquired a new position in shares of Rigel Pharmaceuticals during the second quarter worth approximately $122,000. Voya Investment Management LLC lifted its holdings in shares of Rigel Pharmaceuticals by 30.4% during the second quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock worth $146,000 after buying an additional 12,500 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Rigel Pharmaceuticals during the second quarter worth approximately $193,000. Finally, American International Group Inc. lifted its holdings in shares of Rigel Pharmaceuticals by 39.9% during the first quarter. American International Group Inc. now owns 74,900 shares of the biotechnology company’s stock worth $248,000 after buying an additional 21,345 shares during the last quarter. 88.17% of the stock is currently owned by hedge funds and other institutional investors.

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.

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