Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have earned a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $7.50.
Several brokerages have weighed in on RIGL. HC Wainwright set a $8.00 price target on Rigel Pharmaceuticals and gave the company a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $7.00 price target on shares of Rigel Pharmaceuticals in a report on Thursday, September 26th. BidaskClub upgraded Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Rigel Pharmaceuticals in a report on Friday, October 18th. Finally, Zacks Investment Research downgraded Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, November 9th.
RIGL traded up $0.05 during trading on Friday, hitting $2.34. The company’s stock had a trading volume of 59,677 shares, compared to its average volume of 1,682,931. The firm’s 50 day moving average price is $1.90 and its 200-day moving average price is $2.08. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.06 and a quick ratio of 4.03. The stock has a market cap of $380.48 million, a PE ratio of -5.32 and a beta of 1.37. Rigel Pharmaceuticals has a twelve month low of $1.56 and a twelve month high of $3.16.
Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. The company had revenue of $20.86 million during the quarter, compared to the consensus estimate of $16.27 million. Rigel Pharmaceuticals had a negative return on equity of 52.74% and a negative net margin of 56.84%. During the same period in the previous year, the firm posted ($0.14) EPS. Equities analysts anticipate that Rigel Pharmaceuticals will post -0.4 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Lido Advisors LLC increased its holdings in shares of Rigel Pharmaceuticals by 10.7% during the 2nd quarter. Lido Advisors LLC now owns 143,502 shares of the biotechnology company’s stock worth $374,000 after buying an additional 13,831 shares during the last quarter. Alps Advisors Inc. acquired a new stake in shares of Rigel Pharmaceuticals during the 2nd quarter worth $913,000. JPMorgan Chase & Co. increased its holdings in shares of Rigel Pharmaceuticals by 1,343.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 591,364 shares of the biotechnology company’s stock worth $1,449,000 after buying an additional 550,403 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Rigel Pharmaceuticals by 548.3% during the 2nd quarter. Acadian Asset Management LLC now owns 254,282 shares of the biotechnology company’s stock worth $663,000 after buying an additional 215,058 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Rigel Pharmaceuticals by 1.2% during the 2nd quarter. Northern Trust Corp now owns 2,032,426 shares of the biotechnology company’s stock worth $5,305,000 after buying an additional 23,931 shares during the last quarter. Institutional investors and hedge funds own 90.10% of the company’s stock.
Rigel Pharmaceuticals Company Profile
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.
Featured Article: When is a capital gain realized?
Receive News & Ratings for Rigel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.