Rigel Pharmaceuticals (RIGL) – Analysts’ Weekly Ratings Changes

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

  • 6/9/2022 – Rigel Pharmaceuticals had its price target lowered by analysts at B. Riley from $4.00 to $1.25. They now have a “neutral” rating on the stock.
  • 6/9/2022 – Rigel Pharmaceuticals was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $0.80 price target on the stock, down previously from $7.00.
  • 6/9/2022 – Rigel Pharmaceuticals had its price target lowered by analysts at BMO Capital Markets from $7.00 to $3.00.
  • 6/8/2022 – Rigel Pharmaceuticals was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating. They now have a $1.00 price target on the stock, down previously from $7.00.
  • 6/8/2022 – Rigel Pharmaceuticals was downgraded by analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating. They now have a $1.00 price target on the stock, down previously from $6.00.
  • 6/8/2022 – Rigel Pharmaceuticals was downgraded by analysts at Jefferies Financial Group Inc. from a “buy” rating to a “hold” rating.
  • 6/8/2022 – Rigel Pharmaceuticals had its price target lowered by analysts at HC Wainwright from $11.00 to $7.00. They now have a “buy” rating on the stock.

Shares of NASDAQ RIGL traded down $0.04 during midday trading on Friday, hitting $0.68. The stock had a trading volume of 146,461 shares, compared to its average volume of 4,801,866. The company’s 50-day simple moving average is $2.31 and its 200 day simple moving average is $2.56. The firm has a market cap of $117.30 million, a P/E ratio of -1.39 and a beta of 1.50. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $0.65 and a fifty-two week high of $4.62. The company has a debt-to-equity ratio of 4.39, a current ratio of 2.35 and a quick ratio of 2.23.

Rigel Pharmaceuticals (NASDAQ:RIGLGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The biotechnology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Rigel Pharmaceuticals had a negative return on equity of 219.06% and a negative net margin of 99.89%. The company had revenue of $16.74 million for the quarter, compared to analyst estimates of $18.49 million. During the same period last year, the firm earned $0.22 earnings per share. Equities analysts expect that Rigel Pharmaceuticals, Inc. will post -0.54 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley grew its position in shares of Rigel Pharmaceuticals by 1.5% in the second quarter. Morgan Stanley now owns 1,403,515 shares of the biotechnology company’s stock valued at $6,091,000 after purchasing an additional 20,936 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Rigel Pharmaceuticals by 18.6% in the 3rd quarter. Goldman Sachs Group Inc. now owns 2,353,287 shares of the biotechnology company’s stock valued at $8,543,000 after acquiring an additional 369,865 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Rigel Pharmaceuticals by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,105,540 shares of the biotechnology company’s stock valued at $11,273,000 after acquiring an additional 126,414 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Rigel Pharmaceuticals in the 3rd quarter valued at $499,000. Finally, Credit Suisse AG raised its position in Rigel Pharmaceuticals by 17.8% during the 3rd quarter. Credit Suisse AG now owns 123,983 shares of the biotechnology company’s stock worth $450,000 after purchasing an additional 18,693 shares during the last quarter. 80.33% of the stock is currently owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals, Inc, a biotechnology company, discovers and develops small molecule drugs to treat hematologic disorders, cancer, and rare immune diseases. The company offers Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia.

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