Rigel Pharmaceuticals Inc. (RIGL) Stock Price Down 3.1%
Rigel Pharmaceuticals Inc. (NASDAQ:RIGL)’s share price traded 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 changing hands. The stock had previously closed at $2.28.
Several equities analysts recently weighed in on the company. Jefferies Group reiterated a “buy” rating on shares of Rigel Pharmaceuticals in a research report on Wednesday, May 4th. Zacks Investment Research upgraded Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group AG upgraded Rigel Pharmaceuticals to a “buy” rating in a research report on Saturday, April 23rd. JPMorgan Chase & Co. upgraded Rigel Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $5.00 target price on the stock in a research report on Friday, April 22nd. Finally, Piper Jaffray Cos. assumed coverage on Rigel Pharmaceuticals in a research report on Monday, June 13th. They set an “overweight” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $6.44.
The firm’s market cap is $207.32 million. The company’s 50 day moving average price is $2.40 and its 200-day moving average price is $2.50.
Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.19) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.19). During the same period in the previous year, the company posted ($0.21) earnings per share. The business had revenue of $5.03 million for the quarter, compared to analyst estimates of $4 million. The business’s revenue for the quarter was up 130.7% on a year-over-year basis. Equities analysts predict that Rigel Pharmaceuticals Inc. will post ($0.58) EPS for the current year.
A hedge fund recently raised its stake in Rigel Pharmaceuticals stock. Numeric Investors LLC raised its position in Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) by 26.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 887,584 shares of the company’s stock after buying an additional 184,893 shares during the period. Numeric Investors LLC owned approximately 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.