BidaskClub lowered shares of Rigel Pharmaceuticals (NASDAQ:RIGL) from a sell rating to a strong sell rating in a research note released on Tuesday morning.

Several other brokerages have also recently weighed in on RIGL. HC Wainwright set a $7.00 price objective on shares of Rigel Pharmaceuticals and gave the stock a buy rating in a research note on Monday, December 11th. Zacks Investment Research raised shares of Rigel Pharmaceuticals from a hold rating to a buy rating and set a $4.25 price objective on the stock in a research note on Saturday, November 11th. ValuEngine cut shares of Rigel Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, December 15th. Cantor Fitzgerald assumed coverage on shares of Rigel Pharmaceuticals in a research note on Thursday, December 14th. They issued an overweight rating and a $6.00 price objective on the stock. Finally, BMO Capital Markets reissued a buy rating and issued a $5.00 price objective on shares of Rigel Pharmaceuticals in a research note on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Rigel Pharmaceuticals has a consensus rating of Buy and an average price target of $5.54.

Rigel Pharmaceuticals (NASDAQ RIGL) opened at $3.49 on Tuesday. The stock has a market cap of $508.32, a price-to-earnings ratio of -5.92 and a beta of 1.30. Rigel Pharmaceuticals has a 1-year low of $1.94 and a 1-year high of $4.47.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 102.26%. The company had revenue of $0.90 million for the quarter. During the same period in the prior year, the firm earned ($0.24) EPS. The business’s revenue for the quarter was down 76.1% compared to the same quarter last year. equities research analysts expect that Rigel Pharmaceuticals will post -0.56 EPS for the current fiscal year.

In other Rigel Pharmaceuticals news, CFO Ryan D. Maynard sold 100,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $3.90, for a total transaction of $390,000.00. Following the sale, the chief financial officer now owns 100,000 shares of the company’s stock, valued at $390,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.21% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. AXA bought a new stake in Rigel Pharmaceuticals during the second quarter valued at $122,000. Voya Investment Management LLC boosted its position in Rigel Pharmaceuticals by 30.4% during the second quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock valued at $146,000 after acquiring an additional 12,500 shares during the last quarter. SG Americas Securities LLC boosted its position in Rigel Pharmaceuticals by 415.2% during the third quarter. SG Americas Securities LLC now owns 59,401 shares of the biotechnology company’s stock valued at $151,000 after acquiring an additional 47,872 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Rigel Pharmaceuticals during the second quarter valued at $193,000. Finally, State of Wisconsin Investment Board bought a new stake in Rigel Pharmaceuticals during the second quarter valued at $232,000. 74.51% of the stock is currently owned by institutional investors and hedge funds.

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About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

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