Rigel Pharmaceuticals (RIGL) Given a $7.00 Price Target by HC Wainwright Analysts

Rigel Pharmaceuticals (NASDAQ:RIGL) received a $7.00 price objective from stock analysts at HC Wainwright in a note issued to investors on Friday. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 65.48% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. BidaskClub raised Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $6.00 price objective on shares of Rigel Pharmaceuticals in a research note on Thursday, December 21st. ValuEngine downgraded Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. Cantor Fitzgerald assumed coverage on Rigel Pharmaceuticals in a research note on Thursday, December 14th. They issued an “overweight” rating and a $6.00 price objective for the company. Finally, Zacks Investment Research raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research note on Saturday, November 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $5.54.

Rigel Pharmaceuticals (NASDAQ RIGL) opened at $4.23 on Friday. Rigel Pharmaceuticals has a one year low of $1.94 and a one year high of $4.47.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The firm had revenue of $0.90 million during the quarter. During the same period in the prior year, the firm earned ($0.24) earnings per share. Rigel Pharmaceuticals’s quarterly revenue was down 76.1% compared to the same quarter last year. sell-side analysts expect that Rigel Pharmaceuticals will post -0.56 EPS for the current fiscal year.

In other Rigel Pharmaceuticals news, CFO Ryan D. Maynard sold 100,000 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $3.90, for a total transaction of $390,000.00. Following the sale, the chief financial officer now owns 100,000 shares in the company, valued at approximately $390,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.21% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in RIGL. Vanguard Group Inc. grew its holdings in Rigel Pharmaceuticals by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,039,790 shares of the biotechnology company’s stock valued at $16,489,000 after buying an additional 348,755 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Rigel Pharmaceuticals by 116.9% during the 3rd quarter. Wells Fargo & Company MN now owns 414,745 shares of the biotechnology company’s stock valued at $1,053,000 after buying an additional 223,528 shares during the last quarter. B. Riley Financial Inc. acquired a new stake in Rigel Pharmaceuticals during the 2nd quarter valued at $554,000. Paulson & CO. Inc. grew its holdings in Rigel Pharmaceuticals by 20.4% during the 2nd quarter. Paulson & CO. Inc. now owns 662,056 shares of the biotechnology company’s stock valued at $1,807,000 after buying an additional 112,056 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Rigel Pharmaceuticals by 7.8% during the 2nd quarter. Northern Trust Corp now owns 1,467,524 shares of the biotechnology company’s stock valued at $4,006,000 after buying an additional 106,148 shares during the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.

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About Rigel Pharmaceuticals

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.

Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

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