Rigel Pharmaceuticals (NASDAQ:RIGL) received a $7.00 target price from research analysts at HC Wainwright in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 71.15% from the company’s current price.
A number of other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a report on Saturday, November 11th. 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. BidaskClub lowered shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 19th. ValuEngine lowered shares of Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Finally, Cantor Fitzgerald started coverage on shares of Rigel Pharmaceuticals in a report on Thursday, December 14th. They set an “overweight” rating and a $6.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $5.54.
Shares of Rigel Pharmaceuticals (NASDAQ RIGL) opened at $4.09 on Friday. Rigel Pharmaceuticals has a twelve month low of $1.94 and a twelve month high of $4.47. The company has a market cap of $599.15, a price-to-earnings ratio of -6.93 and a beta of 1.28.
Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $0.90 million for the quarter. During the same quarter last year, the firm posted ($0.24) EPS. The firm’s revenue for the quarter was down 76.1% compared to the same quarter last year. equities research analysts forecast that Rigel Pharmaceuticals will post -0.56 EPS for the current fiscal year.
In other Rigel Pharmaceuticals news, CFO Ryan D. Maynard sold 100,000 shares of Rigel Pharmaceuticals stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $3.90, for a total value of $390,000.00. Following the sale, the chief financial officer now directly owns 100,000 shares in the company, valued at approximately $390,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.21% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. increased its stake in Rigel Pharmaceuticals by 19.3% in the 2nd quarter. Macquarie Group Ltd. now owns 635,000 shares of the biotechnology company’s stock valued at $1,734,000 after buying an additional 102,792 shares during the last quarter. Alliancebernstein L.P. increased its stake in Rigel Pharmaceuticals by 24.6% in 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. Nationwide Fund Advisors increased its stake in Rigel Pharmaceuticals by 20.0% in 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. Vanguard Group Inc. increased 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 valued at $16,489,000 after buying an additional 348,755 shares during the last quarter. Finally, Paulson & CO. Inc. increased 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 valued at $1,807,000 after buying an additional 112,056 shares during the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.
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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.
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