Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGLGet Rating) have received an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $4.45.

Several research firms recently issued reports on RIGL. StockNews.com upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, January 5th. Citigroup upgraded Rigel Pharmaceuticals from a “neutral” rating to a “buy” rating in a research note on Friday, December 2nd. Finally, BMO Capital Markets dropped their price objective on Rigel Pharmaceuticals from $4.00 to $3.00 and set an “outperform” rating for the company in a report on Friday, November 4th.

Institutional Trading of Rigel Pharmaceuticals

A number of hedge funds have recently made changes to their positions in RIGL. Bayesian Capital Management LP bought a new position in Rigel Pharmaceuticals in the 3rd quarter worth $25,000. Dynamic Advisor Solutions LLC increased its holdings in Rigel Pharmaceuticals by 39.9% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 22,800 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 6,500 shares in the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of Rigel Pharmaceuticals in the third quarter valued at about $34,000. Diversified Trust Co boosted its position in Rigel Pharmaceuticals by 109.2% during the fourth quarter. Diversified Trust Co now owns 31,538 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 16,460 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Rigel Pharmaceuticals in the 1st quarter valued at about $103,000. 73.88% of the stock is owned by institutional investors.

Rigel Pharmaceuticals Stock Up 4.6 %

RIGL stock opened at $1.92 on Wednesday. The company has a market capitalization of $330.98 million, a P/E ratio of -3.99 and a beta of 0.72. The company has a 50-day simple moving average of $1.21 and a 200 day simple moving average of $1.19. Rigel Pharmaceuticals has a fifty-two week low of $0.64 and a fifty-two week high of $3.52.

Rigel Pharmaceuticals (NASDAQ:RIGLGet Rating) last announced its earnings results on Thursday, November 3rd. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Rigel Pharmaceuticals had a negative return on equity of 2,419.00% and a negative net margin of 92.44%. The firm had revenue of $22.41 million during the quarter, compared to analysts’ expectations of $22.76 million. Equities analysts anticipate that Rigel Pharmaceuticals will post -0.43 EPS for the current year.

Rigel Pharmaceuticals Company Profile

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Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing small molecule drugs that enhance the lives of patients with hematologic disorders, cancer, and rare immune diseases. The company's commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; and 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.

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Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

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