Shares of Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) 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 analysts recently commented on the stock. HC Wainwright assumed coverage on shares of Rigel Pharmaceuticals in a research note on Wednesday, July 13th. They set a “buy” rating and a $6.00 price target on the stock. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Piper Jaffray Cos. assumed coverage on shares of Rigel Pharmaceuticals in a research note on Monday, June 13th. They set an “overweight” rating and a $10.00 price target on the stock. Jefferies Group restated a “buy” rating and set a $8.00 price target (down from $10.00) on shares of Rigel Pharmaceuticals in a research note on Monday, May 16th. Finally, Credit Suisse Group AG upgraded shares of Rigel Pharmaceuticals to a “buy” rating in a research note on Saturday, April 23rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average 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 earnings results on Tuesday, May 3rd. The company reported ($0.19) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.19). The firm earned $5.03 million during the quarter, compared to analysts’ expectations of $4 million. The firm’s quarterly revenue was up 130.7% on a year-over-year basis. During the same period last year, the firm posted ($0.21) earnings per share. On average, equities analysts anticipate that Rigel Pharmaceuticals Inc. will post ($0.64) earnings per share 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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