Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have earned an average rating of “Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $6.60.

RIGL has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research report on Saturday, May 11th. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 23rd. Cantor Fitzgerald reiterated a “buy” rating and set a $9.00 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 23rd. Finally, BidaskClub upgraded shares of Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 7th.

Shares of NASDAQ:RIGL opened at $2.05 on Monday. Rigel Pharmaceuticals has a one year low of $1.96 and a one year high of $4.01. The company has a quick ratio of 5.29, a current ratio of 5.33 and a debt-to-equity ratio of 0.26. The company has a market cap of $352.77 million, a PE ratio of -4.66 and a beta of 1.18.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Rigel Pharmaceuticals had a negative net margin of 111.48% and a negative return on equity of 58.94%. The company had revenue of $12.62 million during the quarter, compared to analysts’ expectations of $12.00 million. During the same quarter in the previous year, the company earned ($0.17) EPS. As a group, equities research analysts forecast that Rigel Pharmaceuticals will post -0.31 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. HRT Financial LLC acquired a new position in Rigel Pharmaceuticals during the fourth quarter valued at approximately $28,000. Hsbc Holdings PLC acquired a new position in Rigel Pharmaceuticals during the first quarter valued at approximately $29,000. Jane Street Group LLC acquired a new position in Rigel Pharmaceuticals during the first quarter valued at approximately $34,000. Quantitative Systematic Strategies LLC acquired a new position in Rigel Pharmaceuticals during the first quarter valued at approximately $45,000. Finally, SG Americas Securities LLC acquired a new position in Rigel Pharmaceuticals during the first quarter valued at approximately $55,000. Institutional investors own 95.07% of the company’s stock.

About Rigel Pharmaceuticals

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 Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; and Phase III clinical study for autoimmune hemolytic anemia.

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