Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) fell 5.9% on Thursday . The company traded as low as $2.06 and last traded at $2.06, with a volume of 343,041 shares changing hands. The stock had previously closed at $2.19.

A number of research firms have recently weighed in on RIGL. Jefferies Group restated a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, May 4th. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th. HC Wainwright began coverage on shares of Rigel Pharmaceuticals in a research note on Wednesday. They issued a “buy” rating and a $6.00 price target on the stock. Credit Suisse Group AG upgraded shares of Rigel Pharmaceuticals to a “buy” rating in a research note on Saturday, April 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Rigel Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $5.00 price target on the stock in a research note on Friday, April 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Rigel Pharmaceuticals has an average rating of “Buy” and an average price target of $6.35.

The firm’s market cap is $196.27 million. The company has a 50 day moving average of $2.37 and a 200-day moving average of $2.48.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.19) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.19). During the same quarter in the prior year, the firm posted ($0.21) earnings per share. The firm earned $5.03 million during the quarter, compared to the consensus estimate of $4 million. The company’s revenue was up 130.7% on a year-over-year basis. Analysts predict that Rigel Pharmaceuticals Inc. will post ($0.64) earnings per share for the current year.

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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