Rigel Pharmaceuticals’ (RIGL) “Buy” Rating Reiterated at HC Wainwright

Rigel Pharmaceuticals (NASDAQ:RIGL)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $15.00 price objective on the biotechnology company’s stock.

RIGL has been the subject of a number of other research reports. B. Riley reaffirmed a “neutral” rating and issued a $1.25 price objective on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 6th. StockNews.com raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Cantor Fitzgerald lifted their price objective on Rigel Pharmaceuticals from $2.00 to $3.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Finally, Citigroup raised their price target on Rigel Pharmaceuticals from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rigel Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.81.

Rigel Pharmaceuticals Stock Up 0.7 %

RIGL opened at $0.96 on Tuesday. The business’s fifty day simple moving average is $1.01 and its 200 day simple moving average is $1.22. Rigel Pharmaceuticals has a 52 week low of $0.71 and a 52 week high of $1.73. The stock has a market cap of $167.73 million, a PE ratio of -7.97 and a beta of 1.04.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $29.53 million during the quarter, compared to analysts’ expectations of $31.28 million. During the same quarter in the previous year, the business earned ($0.08) EPS. As a group, equities analysts anticipate that Rigel Pharmaceuticals will post -0.08 earnings per share for the current year.

Institutional Trading of Rigel Pharmaceuticals

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Rigel Pharmaceuticals by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company’s stock worth $13,864,000 after buying an additional 414,207 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Rigel Pharmaceuticals by 18.2% during the first quarter. Acadian Asset Management LLC now owns 5,465,183 shares of the biotechnology company’s stock valued at $8,086,000 after acquiring an additional 843,419 shares in the last quarter. CM Management LLC lifted its stake in Rigel Pharmaceuticals by 17.6% in the first quarter. CM Management LLC now owns 2,000,000 shares of the biotechnology company’s stock worth $2,960,000 after acquiring an additional 300,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Rigel Pharmaceuticals in the first quarter valued at $2,012,000. Finally, GSA Capital Partners LLP increased its position in Rigel Pharmaceuticals by 170.9% during the 3rd quarter. GSA Capital Partners LLP now owns 971,441 shares of the biotechnology company’s stock valued at $1,049,000 after purchasing an additional 612,815 shares during the period. 66.23% of the stock is owned by institutional investors.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing therapies that enhance the lives of patients with hematologic disorders and cancer. The company's commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; Rezlidhia, a non-intensive monotherapy for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer, as well as for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.