Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) saw unusually-high trading volume on Thursday . Approximately 720,943 shares were traded 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 a number of analyst reports. Zacks Investment Research raised shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 10th. Piper Jaffray Cos. initiated coverage on shares of Rigel Pharmaceuticals in a research note on Monday, June 13th. They issued an “overweight” rating and a $10.00 price objective for the company. Jefferies Group reissued a “buy” rating and issued a $8.00 price objective (down from $10.00) on shares of Rigel Pharmaceuticals in a research note on Monday, May 16th. 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 equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $6.35.

The company’s market capitalization is $208.25 million. The firm’s 50-day moving average is $2.31 and its 200-day moving average is $2.45.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its earnings results on Tuesday, May 3rd. The company reported ($0.19) EPS for the quarter, hitting analysts’ consensus estimates of ($0.19). The company earned $5.03 million during the quarter, compared to analyst estimates of $4 million. The firm’s revenue for the quarter was up 130.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) earnings per share. Equities analysts predict 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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