Jefferies Group LLC Reaffirms “Buy” Rating for Rigel Pharmaceuticals, Inc. (RIGL)

Jefferies Group LLC restated their buy rating on shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in a research note released on Wednesday morning. Jefferies Group LLC currently has a $5.00 price objective on the biotechnology company’s stock.

A number of other research firms also recently weighed in on RIGL. ValuEngine raised Rigel Pharmaceuticals from a strong sell rating to a sell rating in a report on Monday, October 2nd. BMO Capital Markets reissued a buy rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a report on Monday, October 2nd. Zacks Investment Research raised Rigel Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday. Finally, BidaskClub downgraded Rigel Pharmaceuticals from a sell rating to a strong sell rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $6.75.

Shares of Rigel Pharmaceuticals (RIGL) traded down 0.51% during mid-day trading on Wednesday, hitting $3.88. The company had a trading volume of 5,262,431 shares. The firm’s market cap is $482.64 million. The firm’s 50 day moving average is $2.58 and its 200-day moving average is $2.66. Rigel Pharmaceuticals has a 12-month low of $1.94 and a 12-month high of $4.03.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 105.86%. During the same period last year, the company earned ($0.15) EPS. On average, equities analysts expect that Rigel Pharmaceuticals will post ($0.60) EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Jefferies Group LLC Reaffirms “Buy” Rating for Rigel Pharmaceuticals, Inc. (RIGL)” was originally reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://transcriptdaily.com/2017/10/07/jefferies-group-llc-reaffirms-buy-rating-for-rigel-pharmaceuticals-inc-rigl.html.

Institutional investors and hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC boosted its holdings in shares of Rigel Pharmaceuticals by 11.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 3,118 shares in the last quarter. AXA acquired a new position in shares of Rigel Pharmaceuticals in the 2nd quarter worth approximately $122,000. Voya Investment Management LLC boosted its holdings in shares of Rigel Pharmaceuticals by 30.4% in the 2nd quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock worth $146,000 after acquiring an additional 12,500 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Rigel Pharmaceuticals in the 2nd quarter worth approximately $193,000. Finally, American International Group Inc. boosted its holdings in shares of Rigel Pharmaceuticals by 39.9% in the 1st quarter. American International Group Inc. now owns 74,900 shares of the biotechnology company’s stock worth $248,000 after acquiring an additional 21,345 shares in the last quarter. 88.17% of the stock is currently owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

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.

Leave a Reply