Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have received an average recommendation of “Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $6.70.
Several equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 target price on shares of Foamix Pharmaceuticals in a research note on Tuesday, May 7th. Zacks Investment Research cut Farmland Partners from a “hold” rating to a “sell” rating in a research note on Friday. Finally, BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th.
RIGL traded down $0.01 on Tuesday, reaching $2.52. The stock had a trading volume of 718,818 shares, compared to its average volume of 1,277,240. Rigel Pharmaceuticals has a fifty-two week low of $1.96 and a fifty-two week high of $3.65. The firm’s 50-day moving average price is $2.28. The company has a quick ratio of 5.29, a current ratio of 5.33 and a debt-to-equity ratio of 0.26.
Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $12.62 million during the quarter, compared to analysts’ expectations of $12.00 million. Rigel Pharmaceuticals had a negative return on equity of 58.94% and a negative net margin of 111.48%. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. On average, equities research analysts expect that Rigel Pharmaceuticals will post -0.33 EPS for the current year.
In other Rigel Pharmaceuticals news, CFO Dean L. Schorno purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average cost of $2.13 per share, for a total transaction of $106,500.00. Following the completion of the acquisition, the chief financial officer now owns 46,726 shares of the company’s stock, valued at approximately $99,526.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.96% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. HRT Financial LLC purchased a new stake in Rigel Pharmaceuticals in the fourth quarter worth $28,000. Quantitative Systematic Strategies LLC purchased a new stake in Rigel Pharmaceuticals in the first quarter worth $45,000. SG Americas Securities LLC purchased a new stake in Rigel Pharmaceuticals in the first quarter worth $55,000. Amalgamated Bank increased its position in Rigel Pharmaceuticals by 128.4% in the fourth quarter. Amalgamated Bank now owns 24,692 shares of the biotechnology company’s stock worth $57,000 after buying an additional 13,883 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of Rigel Pharmaceuticals in the first quarter valued at $89,000. 93.04% of the stock is owned by institutional investors and hedge funds.
Rigel Pharmaceuticals Company Profile
Rigel Pharmaceuticals, Inc, a biotechnology company, engages in the discovery and development of small molecule drugs for the treatment of immune and hematologic disorders, cancer, and rare diseases. The company's clinical programs include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; and Phase III clinical study for autoimmune hemolytic anemia.
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