Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have been assigned an average rating of “Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $7.33.

A number of equities analysts have recently issued reports on the company. ValuEngine raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. BidaskClub raised Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, April 30th. Zacks Investment Research cut Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. dropped their price target on Rigel Pharmaceuticals from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th.

Shares of RIGL traded up $0.13 during mid-day trading on Friday, reaching $1.91. The company had a trading volume of 1,950,967 shares, compared to its average volume of 2,205,891. Rigel Pharmaceuticals has a twelve month low of $1.23 and a twelve month high of $3.10. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.73 and a quick ratio of 3.68. The company’s 50-day moving average is $1.88 and its 200-day moving average is $1.97. The company has a market capitalization of $321.97 million, a P/E ratio of -11.94 and a beta of 1.26.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its earnings results on Tuesday, May 5th. The biotechnology company reported $0.13 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.13. Rigel Pharmaceuticals had a negative return on equity of 40.15% and a negative net margin of 27.39%. The business had revenue of $55.76 million during the quarter, compared to analysts’ expectations of $56.94 million. As a group, equities analysts expect that Rigel Pharmaceuticals will post -0.27 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in Rigel Pharmaceuticals by 1,850.0% in the 1st quarter. Royal Bank of Canada now owns 29,347 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 27,842 shares during the last quarter. Arizona State Retirement System bought a new position in Rigel Pharmaceuticals in the 1st quarter valued at $61,000. Public Employees Retirement Association of Colorado boosted its position in Rigel Pharmaceuticals by 21.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 46,114 shares of the biotechnology company’s stock valued at $72,000 after buying an additional 8,014 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Rigel Pharmaceuticals by 167.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 51,722 shares of the biotechnology company’s stock valued at $81,000 after buying an additional 32,392 shares during the last quarter. Finally, Lido Advisors LLC boosted its position in Rigel Pharmaceuticals by 11.8% in the 1st quarter. Lido Advisors LLC now owns 59,186 shares of the biotechnology company’s stock valued at $92,000 after buying an additional 6,255 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals Company Profile

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 Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; and Phase III clinical study for autoimmune hemolytic anemia.

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