BidaskClub upgraded shares of Rigel Pharmaceuticals (NASDAQ:RIGL) from a strong sell rating to a sell rating in a research note published on Friday.

Several other brokerages also recently commented on RIGL. HC Wainwright set a $7.00 price objective on Rigel Pharmaceuticals and gave the stock a buy rating in a research note on Monday, December 11th. Zacks Investment Research raised Rigel Pharmaceuticals from a hold rating to a buy rating and set a $4.25 price target on the stock in a research note on Saturday, November 11th. ValuEngine downgraded Rigel Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, December 15th. Cantor Fitzgerald initiated coverage on Rigel Pharmaceuticals in a research note on Thursday, December 14th. They issued an overweight rating and a $6.00 price target on the stock. Finally, BMO Capital Markets reissued a buy rating and issued a $5.00 price target 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. The company has a consensus rating of Buy and an average price target of $5.54.

Shares of Rigel Pharmaceuticals (NASDAQ:RIGL) opened at $3.88 on Friday. The company has a market capitalization of $568.39, a price-to-earnings ratio of -6.58 and a beta of 1.28. Rigel Pharmaceuticals has a 12 month low of $1.94 and a 12 month high of $4.47.

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

In other Rigel Pharmaceuticals news, CFO Ryan D. Maynard sold 100,000 shares of Rigel Pharmaceuticals stock in a transaction dated Friday, November 3rd. The stock was 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 of the company’s stock, valued at approximately $390,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.21% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RIGL. Teachers Advisors LLC raised its stake in shares of Rigel Pharmaceuticals by 30.6% in the 1st quarter. Teachers Advisors LLC now owns 278,553 shares of the biotechnology company’s stock valued at $922,000 after purchasing an additional 65,185 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Rigel Pharmaceuticals by 32.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 268,000 shares of the biotechnology company’s stock valued at $888,000 after acquiring an additional 66,400 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Rigel Pharmaceuticals by 6.0% in the 2nd quarter. Rhumbline Advisers now owns 139,814 shares of the biotechnology company’s stock valued at $382,000 after acquiring an additional 7,910 shares in the last quarter. State of Wisconsin Investment Board bought a new position in shares of Rigel Pharmaceuticals in the 2nd quarter valued at about $232,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Rigel Pharmaceuticals by 0.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,461,550 shares of the biotechnology company’s stock valued at $3,990,000 after acquiring an additional 11,836 shares in the last quarter. 74.51% of the stock is currently owned by hedge funds and other institutional investors.

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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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