Rigel Pharmaceuticals (NASDAQ:RIGL) Rating Reiterated by HC Wainwright

Rigel Pharmaceuticals (NASDAQ:RIGL)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $15.00 target price on the biotechnology company’s stock.

Several other research firms have also issued reports on RIGL. Cantor Fitzgerald lifted their price target on Rigel Pharmaceuticals from $2.00 to $3.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Citigroup upped their target price on shares of Rigel Pharmaceuticals from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. StockNews.com downgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $1.25 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.81.

Rigel Pharmaceuticals Trading Up 2.8 %

Shares of Rigel Pharmaceuticals stock opened at $1.02 on Wednesday. Rigel Pharmaceuticals has a 12 month low of $0.71 and a 12 month high of $1.96. The firm has a market capitalization of $178.91 million, a P/E ratio of -8.50 and a beta of 1.06. The business has a fifty day simple moving average of $1.29 and a two-hundred day simple moving average of $1.21.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $29.53 million for the quarter, compared to analyst estimates of $31.28 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Analysts predict that Rigel Pharmaceuticals will post -0.05 earnings per share for the current year.

Institutional Trading of Rigel Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in Rigel Pharmaceuticals during the 3rd quarter worth approximately $34,000. Allspring Global Investments Holdings LLC raised its position in shares of Rigel Pharmaceuticals by 28.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 105,067 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 23,526 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Rigel Pharmaceuticals by 22.0% during the 3rd quarter. Principal Financial Group Inc. now owns 121,938 shares of the biotechnology company’s stock valued at $132,000 after buying an additional 21,962 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Rigel Pharmaceuticals by 24.2% in the 1st quarter. BNP Paribas Financial Markets now owns 252,955 shares of the biotechnology company’s stock worth $374,000 after buying an additional 49,223 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in Rigel Pharmaceuticals by 49.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 603,123 shares of the biotechnology company’s stock worth $893,000 after buying an additional 198,712 shares in the last quarter. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing therapies that enhance the lives of patients with hematologic disorders and cancer. The company's commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; Rezlidhia, a non-intensive monotherapy for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer, as well as for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.