Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have earned a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $6.75.

A number of brokerages recently weighed in on RIGL. Zacks Investment Research lowered shares of Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. ValuEngine raised shares of Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Monday, October 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a research note on Tuesday, September 5th. BidaskClub lowered shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a research note on Monday, October 2nd.

A number of large investors have recently modified their holdings of RIGL. Parametric Portfolio Associates LLC lifted its position in Rigel Pharmaceuticals by 11.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock worth $102,000 after buying an additional 3,118 shares in the last quarter. AXA bought a new stake in Rigel Pharmaceuticals during the 2nd quarter worth about $122,000. Voya Investment Management LLC lifted its position 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 buying an additional 12,500 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Rigel Pharmaceuticals during the 2nd quarter worth about $193,000. Finally, State of Wisconsin Investment Board bought a new stake in Rigel Pharmaceuticals during the 2nd quarter worth about $232,000. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals (RIGL) traded down 2.02% during mid-day trading on Friday, hitting $3.89. The stock had a trading volume of 532,666 shares. The company has a 50-day moving average price of $3.04 and a 200 day moving average price of $2.71. The company’s market cap is $483.88 million. Rigel Pharmaceuticals has a 1-year low of $1.94 and a 1-year high of $4.33.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 105.86%. During the same quarter last year, the business posted ($0.15) earnings per share. Equities research analysts forecast that Rigel Pharmaceuticals will post ($0.60) EPS for the current fiscal year.

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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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