Rigel Pharmaceuticals (RIGL) Stock Rating Lowered by BidaskClub

Rigel Pharmaceuticals (NASDAQ:RIGL) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Tuesday.

Several other research analysts have also commented on RIGL. Jefferies Group reaffirmed a “buy” rating and set a $5.00 price target on shares of Rigel Pharmaceuticals in a research report on Tuesday, September 5th. ValuEngine lowered Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 6th. Zacks Investment Research raised Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. BMO Capital Markets reaffirmed a “buy” rating and set a $5.00 price target on shares of Rigel Pharmaceuticals in a research report on Monday, October 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Rigel Pharmaceuticals in a research report on Monday, November 6th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.45.

Rigel Pharmaceuticals (RIGL) opened at $3.35 on Tuesday. Rigel Pharmaceuticals has a 12-month low of $1.94 and a 12-month high of $4.47.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. The company had revenue of $0.90 million for the quarter. Rigel Pharmaceuticals had a negative return on equity of 102.26% and a negative net margin of 354.14%. The company’s quarterly revenue was down 76.1% on a year-over-year basis. During the same period last year, the firm earned ($0.24) EPS. equities analysts predict that Rigel Pharmaceuticals will post -0.56 EPS for the current year.

In other Rigel Pharmaceuticals news, CFO Ryan D. Maynard sold 100,000 shares of Rigel Pharmaceuticals stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $3.90, for a total value of $390,000.00. Following the transaction, the chief financial officer now directly owns 100,000 shares in the company, valued at approximately $390,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.21% of the company’s stock.

Several hedge funds have recently made changes to their positions in RIGL. Teachers Advisors LLC grew its stake in shares of Rigel Pharmaceuticals by 30.6% in the 1st quarter. Teachers Advisors LLC now owns 278,553 shares of the biotechnology company’s stock valued at $922,000 after purchasing an additional 65,185 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Rigel Pharmaceuticals by 20.3% in the first quarter. Vanguard Group Inc. now owns 5,691,035 shares of the biotechnology company’s stock valued at $18,837,000 after buying an additional 960,345 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Rigel Pharmaceuticals by 32.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 268,000 shares of the biotechnology company’s stock valued at $888,000 after buying an additional 66,400 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Rigel Pharmaceuticals by 58.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 93,287 shares of the biotechnology company’s stock valued at $309,000 after buying an additional 34,561 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Rigel Pharmaceuticals by 6.0% in the second quarter. Rhumbline Advisers now owns 139,814 shares of the biotechnology company’s stock valued at $382,000 after buying an additional 7,910 shares in the last quarter. Institutional investors own 74.51% of the company’s stock.

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Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

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