Rigel Pharmaceuticals (NASDAQ:RIGL) Stock Rating Lowered by Wall Street Zen

Rigel Pharmaceuticals (NASDAQ:RIGL) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the stock from $23.00 to $42.00 in a research note on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 8th. Zacks Research raised Rigel Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald upped their price objective on Rigel Pharmaceuticals from $32.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.83.

Rigel Pharmaceuticals Trading Down 2.6%

Shares of RIGL stock opened at $35.19 on Friday. Rigel Pharmaceuticals has a 1 year low of $14.63 and a 1 year high of $43.72. The firm has a market capitalization of $631.20 million, a PE ratio of 6.50 and a beta of 1.22. The stock has a fifty day moving average of $32.27 and a two-hundred day moving average of $26.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.02.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.53. The business had revenue of $69.46 million for the quarter, compared to analysts’ expectations of $61.88 million. Rigel Pharmaceuticals had a net margin of 36.51% and a return on equity of 438.89%. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, research analysts expect that Rigel Pharmaceuticals will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC raised its holdings in Rigel Pharmaceuticals by 234.8% during the 3rd quarter. AlphaQuest LLC now owns 1,105 shares of the biotechnology company’s stock worth $31,000 after buying an additional 775 shares during the period. Virtus Advisers LLC purchased a new position in shares of Rigel Pharmaceuticals in the first quarter worth approximately $40,000. RMG Wealth Management LLC acquired a new stake in shares of Rigel Pharmaceuticals during the second quarter valued at approximately $41,000. Laurel Wealth Advisors LLC lifted its position in shares of Rigel Pharmaceuticals by 1,773.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 2,810 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 2,660 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Rigel Pharmaceuticals by 130.7% in the 2nd quarter. Legal & General Group Plc now owns 4,310 shares of the biotechnology company’s stock valued at $81,000 after acquiring an additional 2,442 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.