Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) traded up 2.8% during mid-day trading on Monday . The company traded as high as $2.25 and last traded at $2.24, with a volume of 257,058 shares trading hands. The stock had previously closed at $2.18.

A number of equities research analysts have recently issued reports on the stock. Credit Suisse Group AG raised shares of Rigel Pharmaceuticals to a “buy” rating in a research report on Saturday, April 23rd. Jefferies Group reissued a “buy” rating on shares of Rigel Pharmaceuticals in a research report on Wednesday, May 4th. JPMorgan Chase & Co. raised shares of Rigel Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $5.00 target price for the company in a research report on Friday, April 22nd. Zacks Investment Research raised shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. Finally, Piper Jaffray Cos. assumed coverage on shares of Rigel Pharmaceuticals in a research report on Monday, June 13th. They issued an “overweight” rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Rigel Pharmaceuticals has an average rating of “Buy” and a consensus target price of $6.35.

The company has a 50-day moving average price of $2.35 and a 200-day moving average price of $2.47. The company’s market capitalization is $205.48 million.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, May 3rd. The company reported ($0.19) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.19). The business had revenue of $5.03 million for the quarter, compared to analysts’ expectations of $4 million. During the same period in the prior year, the business earned ($0.21) earnings per share. The company’s revenue for the quarter was up 130.7% compared to the same quarter last year. Equities analysts forecast that Rigel Pharmaceuticals Inc. will post ($0.64) EPS for the current fiscal 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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