Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) saw unusually-high trading volume on Thursday . Approximately 720,943 shares changed hands during mid-day trading, an increase of 43% from the previous session’s volume of 505,286 shares.The stock last traded at $2.23 and had previously closed at $2.25.

RIGL has been the subject of several research reports. Jefferies Group reiterated a “buy” rating and issued a $8.00 price target (down previously from $10.00) on shares of Rigel Pharmaceuticals in a research report on Monday, May 16th. Credit Suisse Group AG upgraded shares of Rigel Pharmaceuticals to a “buy” rating in a research report on Saturday, April 23rd. HC Wainwright initiated coverage on shares of Rigel Pharmaceuticals in a research report on Wednesday, July 13th. They issued a “buy” rating and a $6.00 price target for the company. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. Finally, Piper Jaffray Cos. began coverage on shares of Rigel Pharmaceuticals in a research report on Monday, June 13th. They issued an “overweight” rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $6.35.

The company has a 50-day moving average price of $2.32 and a 200 day moving average price of $2.45. The stock’s market capitalization is $205.48 million.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.19) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.19). During the same period in the previous year, the business posted ($0.21) EPS. The company had revenue of $5.03 million for the quarter, compared to analyst estimates of $4 million. The firm’s quarterly revenue was up 130.7% compared to the same quarter last year. Analysts expect 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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