Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL – Get Rating) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $4.21.
Several brokerages have recently commented on RIGL. Piper Sandler restated a “neutral” rating and issued a $2.00 price objective on shares of Rigel Pharmaceuticals in a research report on Monday, April 3rd. Citigroup upped their price objective on Rigel Pharmaceuticals from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Thursday, March 9th. StockNews.com began coverage on Rigel Pharmaceuticals in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 8th.
Institutional Investors Weigh In On Rigel Pharmaceuticals
Several hedge funds and other institutional investors have recently modified their holdings of RIGL. Lido Advisors LLC increased its stake in Rigel Pharmaceuticals by 7.6% in the 1st quarter. Lido Advisors LLC now owns 69,105 shares of the biotechnology company’s stock valued at $206,000 after buying an additional 4,854 shares during the period. Russell Investments Group Ltd. increased its position in Rigel Pharmaceuticals by 4.2% in the 4th quarter. Russell Investments Group Ltd. now owns 155,689 shares of the biotechnology company’s stock valued at $234,000 after acquiring an additional 6,224 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in Rigel Pharmaceuticals by 39.9% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 22,800 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 6,500 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Rigel Pharmaceuticals by 5.3% in the 4th quarter. Alliancebernstein L.P. now owns 310,140 shares of the biotechnology company’s stock valued at $465,000 after purchasing an additional 15,700 shares during the last quarter. Finally, Diversified Trust Co boosted its stake in Rigel Pharmaceuticals by 109.2% during the 4th quarter. Diversified Trust Co now owns 31,538 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 16,460 shares during the last quarter. Institutional investors own 73.88% of the company’s stock.
Rigel Pharmaceuticals Trading Up 1.7 %
Rigel Pharmaceuticals (NASDAQ:RIGL – Get Rating) last released its quarterly earnings results on Tuesday, March 7th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.08. Rigel Pharmaceuticals had a negative return on equity of 2,419.00% and a negative net margin of 48.71%. The business had revenue of $51.28 million during the quarter, compared to analyst estimates of $37.55 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. On average, equities research analysts forecast that Rigel Pharmaceuticals will post -0.3 EPS for the current fiscal year.
About Rigel Pharmaceuticals
Rigel Pharmaceuticals, Inc operates as a clinical stage biotechnology company. It discovers and develops novel, targeted drugs in the therapeutic areas of immunology, oncology and immune oncology. The firm focuses on intracellular signalling pathways and related targets that are critical to disease mechanisms.
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