Rigel Pharmaceuticals (RIGL) Upgraded to “Buy” at BidaskClub

Rigel Pharmaceuticals (NASDAQ:RIGL) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

A number of other equities research analysts also recently weighed in on the company. ValuEngine upgraded Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Rigel Pharmaceuticals in a report on Friday, February 2nd. Piper Jaffray Companies restated an “overweight” rating and set a $6.00 price objective on shares of Rigel Pharmaceuticals in a report on Thursday, December 21st. Cantor Fitzgerald assumed coverage on Rigel Pharmaceuticals in a report on Thursday, December 14th. They set an “overweight” rating and a $6.00 price objective for the company. Finally, Zacks Investment Research upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a report on Saturday, November 11th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $5.54.

Shares of Rigel Pharmaceuticals (RIGL) traded down $0.03 during mid-day trading on Thursday, reaching $3.79. The company’s stock had a trading volume of 1,719,566 shares, compared to its average volume of 1,330,000. The company has a market capitalization of $555.20, a P/E ratio of -6.42 and a beta of 1.29. Rigel Pharmaceuticals has a 1-year low of $2.14 and a 1-year high of $4.71.

A number of hedge funds have recently bought and sold shares of RIGL. Wells Fargo & Company MN boosted its position in Rigel Pharmaceuticals by 70.6% in the second quarter. Wells Fargo & Company MN now owns 191,217 shares of the biotechnology company’s stock worth $522,000 after purchasing an additional 79,114 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Rigel Pharmaceuticals by 24.6% during the 2nd quarter. Alliancebernstein L.P. now owns 144,740 shares of the biotechnology company’s stock valued at $395,000 after buying an additional 28,600 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Rigel Pharmaceuticals by 6.7% during the 2nd quarter. Teachers Advisors LLC now owns 297,167 shares of the biotechnology company’s stock valued at $811,000 after buying an additional 18,614 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Rigel Pharmaceuticals by 5.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 473,151 shares of the biotechnology company’s stock valued at $1,292,000 after buying an additional 22,606 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its position in shares of Rigel Pharmaceuticals by 20.0% during the 2nd quarter. Nationwide Fund Advisors now owns 247,659 shares of the biotechnology company’s stock valued at $676,000 after buying an additional 41,355 shares during the last quarter. 74.22% of the stock is currently owned by institutional investors and hedge funds.

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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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