Somewhat Favorable Media Coverage Extremely Likely to Affect Rigel Pharmaceuticals (RIGL) Share Price

Headlines about Rigel Pharmaceuticals (NASDAQ:RIGL) have trended somewhat positive on Saturday, according to Alpha One. The research firm, a subsidiary of Accern, identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Rigel Pharmaceuticals earned a daily sentiment score of 0.14 on Alpha One’s scale. Alpha One also assigned headlines about the biotechnology company an impact score of 100 out of 100, meaning that recent press coverage is extremely likely to have an effect on the company’s share price in the next several days.

These are some of the news headlines that may have effected AlphaOne’s scoring:

Rigel Pharmaceuticals (NASDAQ:RIGL) opened at 2.52 on Friday. Rigel Pharmaceuticals has a one year low of $1.94 and a one year high of $4.38. The company’s 50-day moving average price is $2.90 and its 200-day moving average price is $2.66. The stock’s market cap is $308.53 million.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. The firm had revenue of $3.58 million during the quarter, compared to the consensus estimate of $4.30 million. Rigel Pharmaceuticals had a negative return on equity of 86.54% and a negative net margin of 255.84%. During the same period in the previous year, the business earned ($0.19) EPS. Analysts forecast that Rigel Pharmaceuticals will post ($0.54) EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on RIGL shares. Zacks Investment Research lowered Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, May 3rd. BMO Capital Markets restated an “outperform” rating and set a $4.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, March 8th. Finally, Jefferies Group LLC restated a “buy” rating and set a $5.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, March 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Rigel Pharmaceuticals has an average rating of “Buy” and a consensus target price of $5.71.

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About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovery and development of targeted drugs in the therapeutic areas of immunology, oncology and immuno-oncology. The Company’s clinical programs include clinical studies of fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor in a range of indications.

12 Month Chart for NASDAQ:RIGL

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