Shares of Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) rose 2.8% during trading on Monday . The company traded as high as $2.25 and last traded at $2.24, with a volume of 257,058 shares changing hands. The stock had previously closed at $2.18.

RIGL has been the subject of a number of research analyst reports. Zacks Investment Research raised Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. Piper Jaffray Cos. initiated coverage on Rigel Pharmaceuticals in a research report on Monday, June 13th. They set an “overweight” rating and a $10.00 price target for the company. Jefferies Group reaffirmed a “buy” rating and set a $8.00 price target (down from $10.00) on shares of Rigel Pharmaceuticals in a research report on Monday, May 16th. JPMorgan Chase & Co. raised Rigel Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $5.00 target price for the company in a research report on Friday, April 22nd. Finally, Credit Suisse Group AG raised Rigel Pharmaceuticals to a “buy” rating in a research report on Saturday, April 23rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $6.35.

The company’s market capitalization is $205.48 million. The company has a 50-day moving average price of $2.34 and a 200-day moving average price of $2.45.

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

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.