A number of firms have modified their ratings and price targets on shares of Rigel Pharmaceuticals (NASDAQ: RIGL) recently:

  • 11/17/2018 – Rigel Pharmaceuticals was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
  • 11/14/2018 – Rigel Pharmaceuticals was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $3.25 price target on the stock. According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
  • 11/10/2018 – Rigel Pharmaceuticals was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
  • 11/7/2018 – Rigel Pharmaceuticals was given a new $8.00 price target on by analysts at HC Wainwright. They now have a “buy” rating on the stock.
  • 11/7/2018 – Rigel Pharmaceuticals was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $3.25 price target on the stock. According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
  • 10/29/2018 – Rigel Pharmaceuticals was given a new $8.00 price target on by analysts at HC Wainwright. They now have a “buy” rating on the stock.
  • 10/29/2018 – Rigel Pharmaceuticals was given a new $9.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock.
  • 10/24/2018 – Rigel Pharmaceuticals was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 10/11/2018 – Rigel Pharmaceuticals was given a new $8.00 price target on by analysts at HC Wainwright. They now have a “buy” rating on the stock.
  • 10/5/2018 – Rigel Pharmaceuticals was given a new $8.00 price target on by analysts at HC Wainwright. They now have a “buy” rating on the stock.
  • 10/3/2018 – Rigel Pharmaceuticals had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $9.00 price target on the stock. They wrote, “We believe Rigel is poised to achieved meaningful commercial sales of TAVALISSE in immune thrombocytopenia. In addition to ITP, we see expansion opportunities in AIHA and IgAN. Valuation Summary We arrive at our 12-month price target of $9/share by assessing the after-tax, risk- adjusted NPV of potential future cash flows from fostamatinib for immune-related disorders.””

Shares of NASDAQ RIGL traded down $0.15 during midday trading on Monday, reaching $2.71. 95,228 shares of the company traded hands, compared to its average volume of 1,866,952. The stock has a market cap of $476.59 million, a PE ratio of -4.37 and a beta of 1.25. Rigel Pharmaceuticals, Inc. has a 12 month low of $2.56 and a 12 month high of $4.71.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.02. The company had revenue of $4.87 million for the quarter, compared to the consensus estimate of $3.52 million. Equities analysts forecast that Rigel Pharmaceuticals, Inc. will post -0.42 EPS for the current year.

In other Rigel Pharmaceuticals news, EVP Eldon C. Mayer III purchased 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was acquired at an average cost of $2.82 per share, with a total value of $282,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nelson Cabatuan sold 10,000 shares of Rigel Pharmaceuticals stock in a transaction dated Friday, October 12th. The shares were sold at an average price of $3.12, for a total value of $31,200.00. Following the completion of the transaction, the insider now directly owns 58 shares of the company’s stock, valued at $180.96. The disclosure for this sale can be found here. Insiders sold 179,500 shares of company stock valued at $624,615 over the last ninety days. 5.38% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG raised its holdings in Rigel Pharmaceuticals by 107.0% during the 1st quarter. UBS Group AG now owns 423,414 shares of the biotechnology company’s stock worth $1,499,000 after purchasing an additional 218,868 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in Rigel Pharmaceuticals during the 1st quarter worth about $1,623,000. Bank of Montreal Can bought a new stake in Rigel Pharmaceuticals during the 2nd quarter worth about $139,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Rigel Pharmaceuticals during the 2nd quarter worth about $351,000. Finally, Rhumbline Advisers raised its holdings in Rigel Pharmaceuticals by 16.3% during the 2nd quarter. Rhumbline Advisers now owns 155,515 shares of the biotechnology company’s stock worth $440,000 after purchasing an additional 21,745 shares during the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in the discovery and development of small molecule drugs for the treatment of immune and hematologic disorders, cancer, and rare diseases. The company's clinical programs include fostamatinib, an oral spleen tyrosine kinase inhibitor for immune thrombocytopenia purpura; and Phase II clinical study for autoimmune hemolytic anemia and immunoglobulin a nephropathy.

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