Rigel Pharmaceuticals (NASDAQ:RIGL) Rating Reiterated by HC Wainwright

Rigel Pharmaceuticals (NASDAQ:RIGL)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $15.00 target price on the biotechnology company’s stock.

Several other brokerages have also recently weighed in on RIGL. Cantor Fitzgerald boosted their target price on Rigel Pharmaceuticals from $2.00 to $3.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. B. Riley reaffirmed a “neutral” rating and set a $1.25 target price on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 6th. StockNews.com upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Finally, Citigroup upped their price objective on Rigel Pharmaceuticals from $3.00 to $4.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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 firm’s fifty day simple moving average is $1.01 and its two-hundred 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 company has a market cap of $167.73 million, a price-to-earnings ratio of -7.97 and a beta of 1.04.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The company had revenue of $29.53 million for the quarter, compared to analysts’ expectations of $31.28 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. On average, research analysts forecast that Rigel Pharmaceuticals will post -0.08 EPS for the current year.

Institutional Trading of Rigel Pharmaceuticals

Several hedge funds have recently made changes to their positions in RIGL. Bayesian Capital Management LP lifted its holdings in Rigel Pharmaceuticals by 167.8% during the 1st quarter. Bayesian Capital Management LP now owns 30,480 shares of the biotechnology company’s stock worth $45,000 after buying an additional 19,100 shares in the last quarter. SG Americas Securities LLC raised its position in Rigel Pharmaceuticals by 57.7% in the 4th quarter. SG Americas Securities LLC now owns 49,673 shares of the biotechnology company’s stock valued at $72,000 after purchasing an additional 18,180 shares in the last quarter. BNP Paribas Financial Markets raised its position in Rigel Pharmaceuticals by 24.2% in the 1st quarter. BNP Paribas Financial Markets now owns 252,955 shares of the biotechnology company’s stock valued at $374,000 after purchasing an additional 49,223 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Rigel Pharmaceuticals by 49.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 603,123 shares of the biotechnology company’s stock valued at $893,000 after buying an additional 198,712 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of Rigel Pharmaceuticals by 170.9% during the third quarter. GSA Capital Partners LLP now owns 971,441 shares of the biotechnology company’s stock worth $1,049,000 after buying an additional 612,815 shares in the last quarter. Institutional investors and hedge funds own 66.23% of the company’s stock.

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.