Rigel Pharmaceuticals (NASDAQ:RIGL) Earns “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Rigel Pharmaceuticals (NASDAQ:RIGL) in a research note released on Friday, Benzinga reports. The brokerage currently has a $15.00 price target on the biotechnology company’s stock.

A number of other equities analysts also recently weighed in on RIGL. StockNews.com raised shares of Rigel Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, July 5th. HC Wainwright reaffirmed a buy rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $31.13.

Rigel Pharmaceuticals Price Performance

RIGL stock opened at $13.76 on Friday. Rigel Pharmaceuticals has a 1 year low of $7.12 and a 1 year high of $17.30. The company has a market cap of $242.04 million, a P/E ratio of -11.47 and a beta of 0.93. The firm has a 50-day moving average of $11.89 and a 200 day moving average of $11.28.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.31. The business had revenue of $36.84 million for the quarter, compared to the consensus estimate of $32.38 million. During the same period in the prior year, the business posted ($0.40) EPS. On average, equities research analysts expect that Rigel Pharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rigel Pharmaceuticals

A number of institutional investors have recently made changes to their positions in RIGL. Los Angeles Capital Management LLC grew its holdings in shares of Rigel Pharmaceuticals by 49.1% during the first quarter. Los Angeles Capital Management LLC now owns 603,123 shares of the biotechnology company’s stock valued at $893,000 after buying an additional 198,712 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Rigel Pharmaceuticals by 24.2% during the first quarter. BNP Paribas Financial Markets now owns 252,955 shares of the biotechnology company’s stock valued at $374,000 after buying an additional 49,223 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Rigel Pharmaceuticals by 4.6% in the first quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company’s stock worth $13,864,000 after purchasing an additional 414,207 shares during the last quarter. Acadian Asset Management LLC grew its position in Rigel Pharmaceuticals by 18.2% in the 1st quarter. Acadian Asset Management LLC now owns 5,465,183 shares of the biotechnology company’s stock worth $8,086,000 after purchasing an additional 843,419 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Rigel Pharmaceuticals in the 1st quarter worth approximately $2,012,000. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Company Profile

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.