Rigel Pharmaceuticals Inc. (RIGL) Stock Price Down 3.1%
Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) shares were down 3.1% on Thursday . The stock traded as low as $2.19 and last traded at $2.21, with a volume of 571,906 shares traded. The stock had previously closed at $2.28.
Several research analysts recently weighed in on RIGL shares. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. Jefferies Group reaffirmed a “buy” rating and set a $8.00 price objective (down previously from $10.00) on shares of Rigel Pharmaceuticals in a research note on Monday, May 16th. Piper Jaffray Cos. assumed coverage on shares of Rigel Pharmaceuticals in a research note on Monday, June 13th. They set an “overweight” rating and a $10.00 price objective for the company. JPMorgan Chase & Co. raised shares of Rigel Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $5.00 price objective for the company in a research note on Friday, April 22nd. Finally, Credit Suisse Group AG raised shares of Rigel Pharmaceuticals to a “buy” rating in a research note on Saturday, April 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Rigel Pharmaceuticals currently has an average rating of “Buy” and an average target price of $6.44.
The stock’s market capitalization is $203.64 million. The firm’s 50 day moving average is $2.40 and its 200-day moving average is $2.51.
Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its earnings results on Tuesday, May 3rd. The company reported ($0.19) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.19). During the same period in the previous year, the firm earned ($0.21) EPS. The firm earned $5.03 million during the quarter, compared to analysts’ expectations of $4 million. The firm’s revenue was up 130.7% on a year-over-year basis. Equities analysts forecast that Rigel Pharmaceuticals Inc. will post ($0.58) earnings per share for the current year.
A hedge fund recently raised its stake in Rigel Pharmaceuticals stock. Numeric Investors LLC boosted its stake in shares of Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) by 26.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 887,584 shares of the company’s stock after buying an additional 184,893 shares during the period. Numeric Investors LLC owned about 1.00% of Rigel Pharmaceuticals worth $2,689,000 as of its most recent SEC filing.
Rigel Pharmaceuticals, Inc is a clinical-stage drug development company. The Company discovers and develops small-molecule drugs for the treatment of inflammatory and autoimmune diseases, immuno-oncology related diseases, and muscle disorders. Its research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms.
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