Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)‘s stock had its “outperform” rating reaffirmed by stock analysts at BMO Capital Markets in a research note issued to investors on Monday. They currently have a $5.00 price objective on the biotechnology company’s stock, up from their previous price objective of $4.00. BMO Capital Markets’ price target points to a potential upside of 79.86% from the stock’s current price.
Several other equities research analysts have also recently weighed in on RIGL. HC Wainwright reissued a “buy” rating and issued a $5.00 price target (down previously from $6.00) on shares of Rigel Pharmaceuticals in a research note on Thursday, March 9th. Zacks Investment Research raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research note on Saturday, March 11th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $5.00 price target on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Rigel Pharmaceuticals has a consensus rating of “Buy” and an average price target of $5.88.
Rigel Pharmaceuticals (RIGL) traded up 11.20% during midday trading on Monday, hitting $2.78. The stock had a trading volume of 10,157,367 shares. The firm has a 50-day moving average price of $2.54 and a 200-day moving average price of $2.62. The firm’s market capitalization is $340.37 million. Rigel Pharmaceuticals has a 1-year low of $1.94 and a 1-year high of $4.38.
Rigel Pharmaceuticals (NASDAQ:RIGL) last issued 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 during the quarter, compared to analyst estimates 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 period in the previous year, the company posted ($0.19) EPS. On average, equities research analysts anticipate that Rigel Pharmaceuticals will post ($0.54) earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This article was first reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://transcriptdaily.com/2017/06/19/rigel-pharmaceuticals-inc-rigl-receives-outperform-rating-from-bmo-capital-markets.html.
Large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC boosted its stake in shares of Rigel Pharmaceuticals by 11.3% in the first quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 3,118 shares during the last quarter. American International Group Inc. boosted its stake in Rigel Pharmaceuticals by 39.9% in the first quarter. American International Group Inc. now owns 74,900 shares of the biotechnology company’s stock valued at $248,000 after buying an additional 21,345 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Rigel Pharmaceuticals by 58.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 93,287 shares of the biotechnology company’s stock valued at $309,000 after buying an additional 34,561 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Rigel Pharmaceuticals by 68.6% in the first quarter. Wells Fargo & Company MN now owns 112,103 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 45,600 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Rigel Pharmaceuticals during the fourth quarter valued at approximately $459,000. 89.84% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Rigel Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigel Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.