Shares of Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) saw strong trading volume on Monday . 532,278 shares were traded during trading, an increase of 21% from the previous session’s volume of 440,081 shares.The stock last traded at $2.38 and had previously closed at $2.29.

A number of analysts have commented on the stock. BMO Capital Markets assumed coverage on shares of Rigel Pharmaceuticals in a research report on Monday. They set an “outperform” rating and a $4.00 price target on the stock. Credit Suisse Group AG upgraded shares of Rigel Pharmaceuticals to a “buy” rating in a research report on Saturday, April 23rd. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. HC Wainwright assumed coverage on shares of Rigel Pharmaceuticals in a research report on Wednesday, July 13th. They set a “buy” rating and a $6.00 price target on the stock. Finally, Piper Jaffray Cos. initiated coverage on shares of Rigel Pharmaceuticals in a research report on Monday, June 13th. They set an “overweight” rating and a $10.00 price target on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $5.96.

The company has a 50 day moving average price of $2.29 and a 200-day moving average price of $2.42. The firm’s market cap is $231.28 million.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.19) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.19). The business earned $5.03 million during the quarter, compared to the consensus estimate of $4 million. The company’s quarterly revenue was up 130.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) EPS. Analysts predict 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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