Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Given Consensus Rating of "Hold" by Brokerages

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report) has earned a consensus rating of "Hold" from the five ratings firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $36.40.

Several analysts have recently issued reports on the stock. B. Riley lifted their target price on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, March 5th. Wall Street Zen lowered shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 8th. Citigroup boosted their target price on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, March 6th. HC Wainwright reissued a "buy" rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald boosted their price target on shares of Rigel Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th.

Rigel Pharmaceuticals Trading Up 0.7%

NASDAQ:RIGL opened at $18.76 on Friday. The company has a current ratio of 2.20, a quick ratio of 2.13 and a debt-to-equity ratio of 2.42. The firm has a fifty day simple moving average of $19.42 and a 200-day simple moving average of $19.33. Rigel Pharmaceuticals has a 12 month low of $7.48 and a 12 month high of $29.82. The company has a market capitalization of $335.24 million, a P/E ratio of 9.06 and a beta of 1.29.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.49. Rigel Pharmaceuticals had a net margin of 18.31% and a negative return on equity of 655.26%. The business had revenue of $53.33 million for the quarter, compared to analyst estimates of $43.87 million. During the same quarter last year, the business earned ($0.50) earnings per share. On average, equities research analysts anticipate that Rigel Pharmaceuticals will post 0.22 earnings per share for the current year.

Institutional Trading of Rigel Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Virtus Advisers LLC acquired a new stake in shares of Rigel Pharmaceuticals in the 1st quarter worth $40,000. US Bancorp DE lifted its stake in shares of Rigel Pharmaceuticals by 57.4% in the first quarter. US Bancorp DE now owns 5,120 shares of the biotechnology company's stock valued at $92,000 after purchasing an additional 1,868 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Rigel Pharmaceuticals by 65.9% in the first quarter. New York State Common Retirement Fund now owns 5,536 shares of the biotechnology company's stock valued at $100,000 after purchasing an additional 2,200 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Rigel Pharmaceuticals by 44.5% in the fourth quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company's stock valued at $145,000 after purchasing an additional 2,648 shares during the period. Finally, Graham Capital Management L.P. acquired a new stake in shares of Rigel Pharmaceuticals in the fourth quarter valued at about $170,000. 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.

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