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 report released on Wednesday, Benzinga reports. They presently have a $15.00 price target on the biotechnology company’s stock.

Several other brokerages have also recently weighed in on RIGL. StockNews.com cut Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Citigroup raised their target price on shares of Rigel Pharmaceuticals from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Cantor Fitzgerald upped their price target on shares of Rigel Pharmaceuticals from $2.00 to $3.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Finally, B. Riley restated a “neutral” rating and set a $1.25 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 6th. Two research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.81.

Rigel Pharmaceuticals Trading Up 2.8 %

Shares of NASDAQ RIGL opened at $1.02 on Wednesday. The company has a fifty day moving average price of $1.29 and a 200 day moving average price of $1.21. The firm has a market cap of $178.91 million, a PE ratio of -8.50 and a beta of 1.06. Rigel Pharmaceuticals has a 1-year low of $0.71 and a 1-year high of $1.96.

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

Hedge Funds Weigh In On Rigel Pharmaceuticals

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

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.