According to Zacks, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer. “
Several other research firms have also weighed in on RIGL. BidaskClub lowered shares of Rigel Pharmaceuticals from a sell rating to a strong sell rating in a research note on Tuesday, July 28th. HC Wainwright restated a buy rating and set a $8.00 price target on shares of Rigel Pharmaceuticals in a research note on Thursday, July 9th. ValuEngine lowered shares of Rigel Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Rigel Pharmaceuticals from $7.00 to $6.00 and set an overweight rating for the company in a research note on Wednesday, May 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $6.00.
Shares of NASDAQ RIGL opened at $2.30 on Wednesday. Rigel Pharmaceuticals has a 52-week low of $1.23 and a 52-week high of $5.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.68 and a current ratio of 3.73. The company’s 50 day moving average price is $2.22 and its 200-day moving average price is $2.03.
Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.13 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.13. The firm had revenue of $55.76 million for the quarter, compared to the consensus estimate of $56.94 million. Rigel Pharmaceuticals had a negative net margin of 27.39% and a negative return on equity of 40.15%. On average, analysts predict that Rigel Pharmaceuticals will post -0.27 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of Rigel Pharmaceuticals by 1,850.0% in the 1st quarter. Royal Bank of Canada now owns 29,347 shares of the biotechnology company’s stock worth $45,000 after buying an additional 27,842 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Rigel Pharmaceuticals in the 1st quarter worth about $61,000. Victory Capital Management Inc. boosted its holdings in shares of Rigel Pharmaceuticals by 94.9% in the 4th quarter. Victory Capital Management Inc. now owns 45,175 shares of the biotechnology company’s stock worth $97,000 after buying an additional 21,994 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of Rigel Pharmaceuticals by 21.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 46,114 shares of the biotechnology company’s stock worth $72,000 after buying an additional 8,014 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Rigel Pharmaceuticals by 167.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 51,722 shares of the biotechnology company’s stock worth $81,000 after buying an additional 32,392 shares during the last quarter. 87.98% of the stock is currently owned by institutional investors.
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 Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; and Phase III clinical study for autoimmune hemolytic anemia.
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