Rigel Pharmaceuticals (RIGL) Earns Coverage Optimism Score of 0.44

Headlines about Rigel Pharmaceuticals (NASDAQ:RIGL) have been trending positive on Saturday, according to AlphaOne Sentiment Analysis. The research firm, a service of Accern, identifies positive and negative news coverage by reviewing more than 20 million blog and news sources. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Rigel Pharmaceuticals earned a media sentiment score of 0.44 on AlphaOne’s scale. AlphaOne also assigned news headlines about the biotechnology company an impact score of 0 out of 100, meaning that recent news coverage is extremely unlikely to have an impact on the stock’s share price in the next few days.

Here are some of the news headlines that may have impacted Alpha One Sentiment’s rankings:

Insider Buying and Selling by Quarter for Rigel Pharmaceuticals (NASDAQ:RIGL)

Rigel Pharmaceuticals (NASDAQ:RIGL) traded down 4.58% during midday trading on Friday, reaching $2.50. 1,354,296 shares of the company traded hands. The firm has a 50-day moving average of $2.54 and a 200-day moving average of $2.62. The stock’s market capitalization is $306.08 million. Rigel Pharmaceuticals has a 1-year low of $1.94 and a 1-year high of $4.38.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by $0.01. The company had revenue of $3.58 million for the quarter, compared to analysts’ expectations of $4.30 million. Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 96.24%. During the same quarter in the prior year, the business posted ($0.19) earnings per share. On average, analysts predict that Rigel Pharmaceuticals will post ($0.54) earnings per share for the current year.

Several equities research analysts have recently commented on RIGL shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $4.00 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 8th. Jefferies Group LLC reissued a “buy” rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a report on Wednesday, March 8th. HC Wainwright reissued a “buy” rating and issued a $5.00 target price (down from $6.00) on shares of Rigel Pharmaceuticals in a report on Thursday, March 9th. Finally, Zacks Investment Research raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a report on Saturday, March 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $5.71.

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Rigel Pharmaceuticals Company Profile

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.

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