Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has earned a consensus rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $6.70.
A number of research analysts have weighed in on the company. Zacks Investment Research downgraded Farmland Partners from a “hold” rating to a “sell” rating in a report on Friday. BidaskClub upgraded Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $15.00 price target on shares of Foamix Pharmaceuticals in a research note on Tuesday, May 7th.
In related news, CFO Dean L. Schorno purchased 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were bought at an average price of $2.13 per share, for a total transaction of $106,500.00. Following the purchase, the chief financial officer now directly owns 46,726 shares of the company’s stock, valued at approximately $99,526.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.96% of the company’s stock.
Shares of RIGL stock traded down $0.01 during midday trading on Tuesday, reaching $2.52. 718,818 shares of the stock were exchanged, compared to its average volume of 1,277,240. Rigel Pharmaceuticals has a 1 year low of $1.96 and a 1 year high of $3.65. The company has a 50 day simple moving average of $2.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.29 and a current ratio of 5.33.
Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Rigel Pharmaceuticals had a negative return on equity of 58.94% and a negative net margin of 111.48%. The firm had revenue of $12.62 million for the quarter, compared to the consensus estimate of $12.00 million. During the same quarter in the prior year, the business earned ($0.17) EPS. Sell-side analysts forecast that Rigel Pharmaceuticals will post -0.33 earnings per share for the current year.
Rigel Pharmaceuticals Company Profile
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.
Featured Story: What is the Coverage Ratio?
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.