Recent Investment Analysts’ Ratings Updates for Rigel Pharmaceuticals (RIGL)

Rigel Pharmaceuticals (NASDAQ: RIGL) has recently received a number of price target changes and ratings updates:

  • 11/30/2018 – Rigel Pharmaceuticals was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $3.25 price target on the stock. According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
  • 11/29/2018 – Rigel Pharmaceuticals was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
  • 11/20/2018 – Rigel Pharmaceuticals was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $3.25 price target on the stock. According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
  • 11/17/2018 – Rigel Pharmaceuticals was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
  • 11/14/2018 – Rigel Pharmaceuticals was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $3.25 price target on the stock. According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
  • 11/10/2018 – Rigel Pharmaceuticals was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
  • 11/7/2018 – Rigel Pharmaceuticals was given a new $8.00 price target on by analysts at HC Wainwright. They now have a “buy” rating on the stock.
  • 11/7/2018 – Rigel Pharmaceuticals was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $3.25 price target on the stock. According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
  • 10/29/2018 – Rigel Pharmaceuticals was given a new $8.00 price target on by analysts at HC Wainwright. They now have a “buy” rating on the stock.
  • 10/29/2018 – Rigel Pharmaceuticals was given a new $9.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock.
  • 10/24/2018 – Rigel Pharmaceuticals was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 10/11/2018 – Rigel Pharmaceuticals was given a new $8.00 price target on by analysts at HC Wainwright. They now have a “buy” rating on the stock.
  • 10/5/2018 – Rigel Pharmaceuticals was given a new $8.00 price target on by analysts at HC Wainwright. They now have a “buy” rating on the stock.

RIGL stock opened at $2.83 on Monday. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $2.56 and a fifty-two week high of $4.71. The firm has a market cap of $471.59 million, a P/E ratio of -4.56 and a beta of 1.32.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. The firm had revenue of $4.87 million during the quarter, compared to analyst estimates of $3.52 million. Equities analysts anticipate that Rigel Pharmaceuticals, Inc. will post -0.42 earnings per share for the current fiscal year.

In other news, insider Nelson Cabatuan sold 10,000 shares of Rigel Pharmaceuticals stock in a transaction on Friday, October 12th. The stock was sold at an average price of $3.12, for a total value of $31,200.00. Following the completion of the sale, the insider now directly owns 58 shares of the company’s stock, valued at approximately $180.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anne-Marie Duliege sold 16,500 shares of Rigel Pharmaceuticals stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $3.51, for a total value of $57,915.00. Following the completion of the sale, the executive vice president now directly owns 16,500 shares of the company’s stock, valued at $57,915. The disclosure for this sale can be found here. Insiders sold a total of 179,500 shares of company stock valued at $624,615 over the last three months. Insiders own 5.38% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Rigel Pharmaceuticals by 1.8% in the 3rd quarter. FMR LLC now owns 24,966,516 shares of the biotechnology company’s stock valued at $80,143,000 after buying an additional 429,472 shares during the period. BlackRock Inc. boosted its position in shares of Rigel Pharmaceuticals by 1.8% in the 3rd quarter. BlackRock Inc. now owns 13,635,104 shares of the biotechnology company’s stock worth $43,767,000 after purchasing an additional 242,737 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Rigel Pharmaceuticals by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,414,959 shares of the biotechnology company’s stock worth $23,802,000 after purchasing an additional 46,784 shares during the last quarter. Sofinnova Ventures Inc boosted its position in shares of Rigel Pharmaceuticals by 43.5% in the 3rd quarter. Sofinnova Ventures Inc now owns 3,260,931 shares of the biotechnology company’s stock worth $10,467,000 after purchasing an additional 988,204 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Rigel Pharmaceuticals by 87.0% in the 3rd quarter. Morgan Stanley now owns 2,710,087 shares of the biotechnology company’s stock worth $8,699,000 after purchasing an additional 1,260,718 shares during the last quarter. 94.12% of the stock is owned by institutional investors.

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in the discovery and development of small molecule drugs for the treatment of immune and hematologic disorders, cancer, and rare diseases. The company's clinical programs include fostamatinib, an oral spleen tyrosine kinase inhibitor for immune thrombocytopenia purpura; and Phase II clinical study for autoimmune hemolytic anemia and immunoglobulin a nephropathy.

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