Rigel Pharmaceuticals (NASDAQ:RIGL) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other research analysts have also issued reports on the company. Zacks Investment Research upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a report on Saturday, November 11th. HC Wainwright set a $7.00 price target on Rigel Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, December 11th. BidaskClub lowered Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 19th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $6.00 price target on shares of Rigel Pharmaceuticals in a report on Thursday, December 21st. Finally, Cantor Fitzgerald started coverage on Rigel Pharmaceuticals in a report on Thursday, December 14th. They issued an “overweight” rating and a $6.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $5.54.

Shares of Rigel Pharmaceuticals (NASDAQ:RIGL) opened at $3.82 on Wednesday. The company has a market capitalization of $590.36, a PE ratio of -6.47 and a beta of 1.29. Rigel Pharmaceuticals has a 52-week low of $2.14 and a 52-week high of $4.71.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. The firm had revenue of $0.90 million during the quarter. The business’s quarterly revenue was down 76.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.24) EPS. equities analysts forecast that Rigel Pharmaceuticals will post -0.56 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Voya Investment Management LLC boosted its holdings in Rigel Pharmaceuticals by 30.4% in the second quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock worth $146,000 after acquiring an additional 12,500 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Rigel Pharmaceuticals by 415.2% in the third quarter. SG Americas Securities LLC now owns 59,401 shares of the biotechnology company’s stock worth $151,000 after purchasing an additional 47,872 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Rigel Pharmaceuticals in the fourth quarter worth approximately $181,000. The Manufacturers Life Insurance Company raised its stake in shares of Rigel Pharmaceuticals by 16.2% in the second quarter. The Manufacturers Life Insurance Company now owns 99,023 shares of the biotechnology company’s stock worth $270,000 after purchasing an additional 13,838 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Rigel Pharmaceuticals by 24.6% in the second quarter. Alliancebernstein L.P. now owns 144,740 shares of the biotechnology company’s stock worth $395,000 after purchasing an additional 28,600 shares during the last quarter. Institutional investors and hedge funds own 74.22% of the company’s stock.

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Rigel Pharmaceuticals Company Profile

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.

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Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

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