Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has received a consensus rating of “Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $5.54.

Several equities research analysts have recently issued reports on the company. BidaskClub raised Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine raised Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. Jefferies Group reissued a “buy” rating and issued a $5.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, October 4th. Zacks Investment Research raised Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $5.00 price objective on shares of Rigel Pharmaceuticals in a report on Monday, October 2nd.

In related news, CFO Ryan D. Maynard sold 100,000 shares of Rigel Pharmaceuticals stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $3.90, for a total value of $390,000.00. Following the completion of the sale, the chief financial officer now owns 100,000 shares of the company’s stock, valued at approximately $390,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 5.21% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of RIGL. Vanguard Group Inc. boosted its stake in Rigel Pharmaceuticals by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 6,039,790 shares of the biotechnology company’s stock worth $16,489,000 after purchasing an additional 348,755 shares during the period. Wells Fargo & Company MN boosted its stake in Rigel Pharmaceuticals by 116.9% in the 3rd quarter. Wells Fargo & Company MN now owns 414,745 shares of the biotechnology company’s stock worth $1,053,000 after purchasing an additional 223,528 shares during the period. B. Riley Financial Inc. bought a new position in Rigel Pharmaceuticals in the 2nd quarter worth about $554,000. Paulson & CO. Inc. boosted its stake in Rigel Pharmaceuticals by 20.4% in the 2nd quarter. Paulson & CO. Inc. now owns 662,056 shares of the biotechnology company’s stock worth $1,807,000 after purchasing an additional 112,056 shares during the period. Finally, Northern Trust Corp boosted its stake in Rigel Pharmaceuticals by 7.8% in the 2nd quarter. Northern Trust Corp now owns 1,467,524 shares of the biotechnology company’s stock worth $4,006,000 after purchasing an additional 106,148 shares during the period. Institutional investors and hedge funds own 74.51% of the company’s stock.

Shares of Rigel Pharmaceuticals (RIGL) traded up $0.09 during trading on Friday, hitting $4.14. The stock had a trading volume of 1,454,500 shares, compared to its average volume of 1,238,267. Rigel Pharmaceuticals has a 1 year low of $1.94 and a 1 year high of $4.47. The stock has a market cap of $593.29, a price-to-earnings ratio of -7.02 and a beta of 1.28.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. The business had revenue of $0.90 million for the quarter. During the same period in the previous year, the company posted ($0.24) earnings per share. Rigel Pharmaceuticals’s revenue was down 76.1% on a year-over-year basis. sell-side analysts expect that Rigel Pharmaceuticals will post -0.56 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

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