Rigel Pharmaceuticals (RIGL) Stock Rating Upgraded by BidaskClub

Rigel Pharmaceuticals (NASDAQ:RIGL) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday.

RIGL has been the subject of several other reports. Jefferies Group restated a “buy” rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a research report on Tuesday, September 5th. ValuEngine cut shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. BMO Capital Markets restated a “buy” rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a research report on Monday, October 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Rigel Pharmaceuticals in a research report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $5.54.

Shares of Rigel Pharmaceuticals (RIGL) opened at $3.88 on Friday. Rigel Pharmaceuticals has a 12 month low of $1.94 and a 12 month high of $4.47. The firm has a market cap of $568.39, a PE ratio of -6.58 and a beta of 1.30.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 102.26%. The business had revenue of $0.90 million during the quarter. During the same quarter last year, the firm earned ($0.24) EPS. Rigel Pharmaceuticals’s revenue for the quarter was down 76.1% compared to the same quarter last year. equities research analysts expect that Rigel Pharmaceuticals will post -0.56 earnings per share for the current year.

In other news, CFO Ryan D. Maynard sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $3.90, for a total value of $390,000.00. Following the completion of the transaction, the chief financial officer now directly owns 100,000 shares in the company, valued at approximately $390,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.21% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Rigel Pharmaceuticals by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,039,790 shares of the biotechnology company’s stock valued at $16,489,000 after purchasing an additional 348,755 shares during the last quarter. State Street Corp grew its holdings in shares of Rigel Pharmaceuticals by 4.3% during the 2nd quarter. State Street Corp now owns 2,188,997 shares of the biotechnology company’s stock valued at $5,974,000 after purchasing an additional 90,640 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Rigel Pharmaceuticals by 7.8% during the 2nd quarter. Northern Trust Corp now owns 1,467,524 shares of the biotechnology company’s stock valued at $4,006,000 after purchasing an additional 106,148 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Rigel Pharmaceuticals by 0.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,461,550 shares of the biotechnology company’s stock valued at $3,990,000 after purchasing an additional 11,836 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. grew its holdings in shares of Rigel Pharmaceuticals by 7.2% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 1,265,000 shares of the biotechnology company’s stock valued at $3,213,000 after purchasing an additional 85,000 shares during the last quarter. 74.51% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This article was first published by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://transcriptdaily.com/2017/12/31/rigel-pharmaceuticals-rigl-stock-rating-upgraded-by-bidaskclub.html.

About Rigel Pharmaceuticals

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.

Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

Receive News & Ratings for Rigel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply