Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) received a $11.00 target price from investment analysts at Piper Jaffray Cos. in a research report issued on Wednesday. The firm presently has a “buy” rating on the stock. Piper Jaffray Cos.’s price target would indicate a potential upside of 285.96% from the company’s current price.
RIGL has been the topic of a number of other research reports. HC Wainwright set a $6.00 target price on Rigel Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, October 21st. Zacks Investment Research raised Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Jefferies Group reissued a “buy” rating and issued a $9.00 target price (up previously from $8.50) on shares of Rigel Pharmaceuticals in a research note on Friday, September 16th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $5.00 price objective on shares of Rigel Pharmaceuticals in a research note on Wednesday, August 3rd. Finally, BMO Capital Markets started coverage on Rigel Pharmaceuticals in a research note on Monday, August 1st. They set an “outperform” rating and a $4.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $6.63.
Shares of Rigel Pharmaceuticals (NASDAQ:RIGL) traded down 0.35% on Wednesday, hitting $2.85. The stock had a trading volume of 212,067 shares. The firm has a 50 day moving average of $2.96 and a 200-day moving average of $2.80. Rigel Pharmaceuticals has a 1-year low of $1.88 and a 1-year high of $4.38. The firm’s market capitalization is $281.97 million.
Rigel Pharmaceuticals (NASDAQ:RIGL) last released its earnings results on Tuesday, November 1st. The company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.01. The firm earned $3.76 million during the quarter, compared to the consensus estimate of $3.97 million. Rigel Pharmaceuticals had a negative net margin of 255.84% and a negative return on equity of 86.54%. The firm’s revenue was down 71.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) EPS. Equities analysts predict that Rigel Pharmaceuticals will post ($0.74) earnings per share for the current year.
Several hedge funds have recently bought and sold shares of RIGL. Wells Fargo & Company MN boosted its stake in Rigel Pharmaceuticals by 40.7% in the third quarter. Wells Fargo & Company MN now owns 34,195 shares of the company’s stock valued at $126,000 after buying an additional 9,900 shares during the last quarter. American International Group Inc. boosted its stake in Rigel Pharmaceuticals by 3.8% in the second quarter. American International Group Inc. now owns 53,611 shares of the company’s stock valued at $120,000 after buying an additional 1,987 shares during the last quarter. BlackRock Inc. boosted its stake in Rigel Pharmaceuticals by 127.1% in the third quarter. BlackRock Inc. now owns 67,161 shares of the company’s stock valued at $247,000 after buying an additional 37,593 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Rigel Pharmaceuticals during the third quarter valued at about $252,000. Finally, ProShare Advisors LLC boosted its stake in Rigel Pharmaceuticals by 5.5% in the second quarter. ProShare Advisors LLC now owns 79,983 shares of the company’s stock valued at $178,000 after buying an additional 4,141 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.
Rigel Pharmaceuticals Company Profile