Rigel Pharmaceuticals (RIGL) Given a $8.00 Price Target by HC Wainwright Analysts

Rigel Pharmaceuticals (NASDAQ:RIGL) has been assigned a $8.00 price target by HC Wainwright in a research report issued on Friday. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 263.64% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research report on Tuesday, November 20th. Cantor Fitzgerald restated a “buy” rating and issued a $9.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 3rd. Finally, BidaskClub upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $7.50.

Shares of Rigel Pharmaceuticals stock traded down $0.10 on Friday, reaching $2.20. The stock had a trading volume of 1,727,103 shares, compared to its average volume of 2,705,688. Rigel Pharmaceuticals has a 1 year low of $1.96 and a 1 year high of $4.71. The company has a market cap of $398.27 million, a price-to-earnings ratio of -3.55 and a beta of 1.43.



Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The firm had revenue of $4.87 million during the quarter, compared to analysts’ expectations of $3.52 million. As a group, equities research analysts expect that Rigel Pharmaceuticals will post -0.43 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in shares of Rigel Pharmaceuticals by 1.8% in the third quarter. FMR LLC now owns 24,966,516 shares of the biotechnology company’s stock worth $80,143,000 after purchasing an additional 429,472 shares during the last quarter. BlackRock Inc. grew its position in Rigel Pharmaceuticals by 1.8% during the third quarter. BlackRock Inc. now owns 13,635,104 shares of the biotechnology company’s stock valued at $43,767,000 after acquiring an additional 242,737 shares during the last quarter. Vanguard Group Inc grew its position in Rigel Pharmaceuticals by 0.6% during the third quarter. Vanguard Group Inc now owns 7,414,959 shares of the biotechnology company’s stock valued at $23,802,000 after acquiring an additional 46,784 shares during the last quarter. Vanguard Group Inc. grew its position in Rigel Pharmaceuticals by 0.6% during the third quarter. Vanguard Group Inc. now owns 7,414,959 shares of the biotechnology company’s stock valued at $23,802,000 after acquiring an additional 46,784 shares during the last quarter. Finally, Sofinnova Ventures Inc grew its position in Rigel Pharmaceuticals by 43.5% during the third quarter. Sofinnova Ventures Inc now owns 3,260,931 shares of the biotechnology company’s stock valued at $10,467,000 after acquiring an additional 988,204 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in the discovery and development of small molecule drugs for the treatment of immune and hematologic disorders, cancer, and rare diseases. The company's clinical programs include fostamatinib, an oral spleen tyrosine kinase inhibitor for immune thrombocytopenia purpura; and Phase II clinical study for autoimmune hemolytic anemia and immunoglobulin a nephropathy.

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Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

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