Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Given Consensus Rating of “Hold” by Analysts

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have received a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $38.20.

Separately, Cantor Fitzgerald lifted their price objective on Rigel Pharmaceuticals from $23.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th.

Hedge Funds Weigh In On Rigel Pharmaceuticals

Several large investors have recently modified their holdings of RIGL. JPMorgan Chase & Co. increased its position in shares of Rigel Pharmaceuticals by 587.9% during the 4th quarter. JPMorgan Chase & Co. now owns 180,492 shares of the biotechnology company’s stock valued at $3,036,000 after purchasing an additional 154,254 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Rigel Pharmaceuticals by 70.8% during the 4th quarter. Franklin Resources Inc. now owns 21,809 shares of the biotechnology company’s stock valued at $367,000 after purchasing an additional 9,043 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Rigel Pharmaceuticals by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 402,051 shares of the biotechnology company’s stock valued at $6,764,000 after purchasing an additional 2,388 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Rigel Pharmaceuticals by 44.5% during the 4th quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 2,648 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Rigel Pharmaceuticals by 111.1% in the 4th quarter. Renaissance Technologies LLC now owns 299,709 shares of the biotechnology company’s stock valued at $5,041,000 after acquiring an additional 157,763 shares during the last quarter. Institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Performance

NASDAQ:RIGL opened at $39.51 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.90. Rigel Pharmaceuticals has a 1 year low of $11.95 and a 1 year high of $39.68. The stock’s 50 day simple moving average is $22.16 and its two-hundred day simple moving average is $20.50. The company has a market cap of $708.81 million, a price-to-earnings ratio of 7.30 and a beta of 1.21.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings data on Tuesday, August 5th. The biotechnology company reported $3.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $1.31. Rigel Pharmaceuticals had a return on equity of 438.89% and a net margin of 36.51%. The business had revenue of $101.69 million for the quarter, compared to the consensus estimate of $64.58 million. As a group, equities analysts anticipate that Rigel Pharmaceuticals will post 0.22 earnings per share for the current fiscal year.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing therapies that enhance the lives of patients with hematologic disorders and cancer. The company’s commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; Rezlidhia, a non-intensive monotherapy for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer, as well as for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.