Rigel Pharmaceuticals (RIGL) Rating Reiterated by Piper Jaffray Companies

Piper Jaffray Companies reissued their overweight rating on shares of Rigel Pharmaceuticals (NASDAQ:RIGL) in a research report report published on Thursday, December 21st, MarketBeat Ratings reports. Piper Jaffray Companies currently has a $6.00 target price on the biotechnology company’s stock.

A number of other equities research analysts also recently commented on RIGL. ValuEngine raised shares of Rigel Pharmaceuticals from a strong sell rating to a sell rating in a research report on Monday, October 2nd. Jefferies Group reaffirmed a buy rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 4th. Zacks Investment Research raised shares of Rigel Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, October 4th. BMO Capital Markets reissued a buy rating and set a $5.00 price objective on shares of Rigel Pharmaceuticals in a research report on Monday, October 2nd. Finally, Cantor Fitzgerald started coverage on shares of Rigel Pharmaceuticals in a research note on Thursday, December 14th. They set an overweight rating and a $6.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $5.54.

Rigel Pharmaceuticals (RIGL) opened at $4.07 on Thursday. Rigel Pharmaceuticals has a 1-year low of $1.94 and a 1-year high of $4.47. The stock has a market cap of $609.40, a P/E ratio of -6.90 and a beta of 1.28.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. The firm had revenue of $0.90 million for the quarter. The firm’s quarterly revenue was down 76.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.24) earnings per share. 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 business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $3.90, for a total value of $390,000.00. Following the sale, the chief financial officer now owns 100,000 shares in the company, valued at approximately $390,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.21% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in RIGL. Vanguard Group Inc. raised its position in shares of Rigel Pharmaceuticals by 20.3% during the 1st quarter. Vanguard Group Inc. now owns 5,691,035 shares of the biotechnology company’s stock valued at $18,837,000 after buying an additional 960,345 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Rigel Pharmaceuticals by 116.9% during the 3rd quarter. Wells Fargo & Company MN now owns 414,745 shares of the biotechnology company’s stock valued at $1,053,000 after purchasing an additional 223,528 shares during the last quarter. B. Riley Financial Inc. bought a new position in Rigel Pharmaceuticals during the 2nd quarter valued at about $554,000. Paulson & CO. Inc. grew its holdings in Rigel Pharmaceuticals by 20.4% during the 2nd quarter. Paulson & CO. Inc. now owns 662,056 shares of the biotechnology company’s stock valued at $1,807,000 after purchasing an additional 112,056 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Rigel Pharmaceuticals by 7.8% during the 2nd quarter. Northern Trust Corp now owns 1,467,524 shares of the biotechnology company’s stock valued at $4,006,000 after purchasing an additional 106,148 shares during the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.

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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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