Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) shares traded down 3.4% during trading on Friday . The company traded as low as $2.22 and last traded at $2.26, with a volume of 207,737 shares trading hands. The stock had previously closed at $2.34.

A number of research analysts have recently commented on the company. Credit Suisse Group AG raised Rigel Pharmaceuticals to a “buy” rating in a research note on Saturday, April 23rd. Jefferies Group reaffirmed a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, May 4th. JPMorgan Chase & Co. raised Rigel Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $5.00 target price on the stock in a research note on Friday, April 22nd. Zacks Investment Research raised Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 10th. Finally, Piper Jaffray Cos. assumed coverage on Rigel Pharmaceuticals in a research note 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 five have assigned a buy rating to the company’s stock. Rigel Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $6.35.

The stock has a 50-day moving average of $2.29 and a 200 day moving average of $2.43. The stock’s market cap is $211.01 million.

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