Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report) have been given an average recommendation of "Hold" by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $36.20.
A number of research firms have weighed in on RIGL. B. Riley increased their price objective on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. HC Wainwright reiterated a "buy" rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 22nd. StockNews.com raised shares of Rigel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 18th. Cantor Fitzgerald raised their price objective on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Finally, Citigroup boosted their target price on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th.
View Our Latest Research Report on RIGL
Shares of RIGL opened at $21.72 on Tuesday. The company's 50 day simple moving average is $20.56 and its 200-day simple moving average is $16.37. Rigel Pharmaceuticals has a 12-month low of $7.48 and a 12-month high of $29.82. The firm has a market cap of $382.49 million, a PE ratio of 155.15 and a beta of 1.31.
Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.69. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. The company had revenue of $55.31 million for the quarter, compared to analyst estimates of $40.69 million. During the same period in the previous year, the business posted ($0.30) earnings per share. As a group, equities research analysts forecast that Rigel Pharmaceuticals will post 0.22 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of RIGL. Assenagon Asset Management S.A. purchased a new stake in Rigel Pharmaceuticals during the third quarter worth $7,148,000. Geode Capital Management LLC increased its holdings in Rigel Pharmaceuticals by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 399,663 shares of the biotechnology company's stock valued at $6,468,000 after acquiring an additional 8,881 shares in the last quarter. State Street Corp grew its position in shares of Rigel Pharmaceuticals by 0.7% in the third quarter. State Street Corp now owns 367,795 shares of the biotechnology company's stock valued at $5,951,000 after purchasing an additional 2,552 shares during the last quarter. Stonepine Capital Management LLC increased its stake in shares of Rigel Pharmaceuticals by 1.3% during the 3rd quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company's stock worth $5,001,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Rigel Pharmaceuticals by 29.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 98,006 shares of the biotechnology company's stock valued at $1,586,000 after buying an additional 22,443 shares in the last quarter. Hedge funds and other institutional investors own 66.23% of the company's stock.
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.
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