Rigel Pharmaceuticals Inc. (RIGL) Shares Down 2.6%
Shares of Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) fell 2.6% on Monday . The company traded as low as $2.88 and last traded at $3.00, with a volume of 523,115 shares changing hands. The stock had previously closed at $3.08.
RIGL has been the topic of several recent 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 report on Monday, May 16th. Credit Suisse Group AG upgraded Rigel Pharmaceuticals to a “buy” rating in a report on Saturday, April 23rd. HC Wainwright reiterated a “buy” rating on shares of Rigel Pharmaceuticals in a report on Thursday. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $5.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, August 3rd. Finally, Zacks Investment Research upgraded Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 10th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $5.96.
The company’s market cap is $280.93 million. The stock has a 50-day moving average price of $2.36 and a 200 day moving average price of $2.42.
Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. The firm earned $8.60 million during the quarter, compared to analyst estimates of $3.75 million. Rigel Pharmaceuticals’s revenue for the quarter was up 65.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.16) EPS. On average, equities analysts expect that Rigel Pharmaceuticals Inc. will post ($0.78) 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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