Rigel Pharmaceuticals (RIGL) Cut to Sell at BidaskClub

Share on StockTwits

BidaskClub cut shares of Rigel Pharmaceuticals (NASDAQ:RIGL) from a hold rating to a sell rating in a research report released on Thursday morning.

RIGL has been the subject of several other reports. HC Wainwright lowered their price objective on shares of Rigel Pharmaceuticals from $7.00 to $6.70 and set a buy rating for the company in a research note on Tuesday, April 3rd. Piper Jaffray Companies boosted their price objective on shares of Rigel Pharmaceuticals from $7.00 to $8.00 and gave the company an overweight rating in a research note on Tuesday, May 1st. BMO Capital Markets boosted their price objective on shares of Rigel Pharmaceuticals from $8.00 to $10.00 and gave the company an outperform rating in a research note on Wednesday, May 2nd. Cantor Fitzgerald set a $9.00 price objective on shares of Rigel Pharmaceuticals and gave the company an overweight rating in a research note on Tuesday, May 1st. Finally, Zacks Investment Research raised shares of Rigel Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $7.63.

Shares of Rigel Pharmaceuticals opened at $3.18 on Thursday, according to MarketBeat. Rigel Pharmaceuticals has a 52-week low of $2.14 and a 52-week high of $4.71. The firm has a market cap of $520.18 million, a PE ratio of -5.13 and a beta of 1.36.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, May 1st. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.17). During the same quarter in the previous year, the firm earned ($0.13) EPS. sell-side analysts predict that Rigel Pharmaceuticals will post -0.65 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of RIGL. UBS Asset Management Americas Inc. acquired a new position in shares of Rigel Pharmaceuticals during the 4th quarter valued at $105,000. Quantitative Investment Management LLC acquired a new position in shares of Rigel Pharmaceuticals during the 4th quarter valued at $109,000. Teacher Retirement System of Texas acquired a new position in shares of Rigel Pharmaceuticals during the 4th quarter valued at $181,000. Lido Advisors LLC acquired a new position in shares of Rigel Pharmaceuticals during the 1st quarter valued at $195,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Rigel Pharmaceuticals during the 1st quarter valued at $232,000. Institutional investors and hedge funds own 84.51% of the company’s stock.

About Rigel Pharmaceuticals

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.

Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

Receive News & Ratings for Rigel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply