Rigel Pharmaceuticals Inc. (NASDAQ:RIGL)’s share price rose 3.2% during mid-day trading on Tuesday . The stock traded as high as $2.99 and last traded at $2.90, with a volume of 488,982 shares trading hands. The stock had previously closed at $2.81.

A number of equities research analysts recently weighed in on the stock. Jefferies Group restated a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, May 4th. Zacks Investment Research cut shares of Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 7th. 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 objective 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 objective on the stock. Finally, BMO Capital Markets assumed coverage on shares of Rigel Pharmaceuticals in a research note on Monday, August 1st. They set an “outperform” rating and a $4.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $5.96.

The company has a 50 day moving average of $2.54 and a 200 day moving average of $2.44. The firm’s market cap is $253.50 million.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.05. During the same quarter last year, the company earned ($0.16) earnings per share. The company earned $8.60 million during the quarter, compared to the consensus estimate of $3.75 million. The business’s revenue was up 65.4% on a year-over-year basis. On average, equities analysts anticipate that Rigel Pharmaceuticals Inc. will post ($0.75) EPS for the current year.

An institutional investor recently raised its position in Rigel Pharmaceuticals stock. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) by 14.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 460,672 shares of the company’s stock after buying an additional 58,222 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.52% of Rigel Pharmaceuticals worth $1,396,000 as of its most recent SEC filing.

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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