According to Bloomberg, the eight research firms that follow Rigel Pharmaceuticals, INC (NASDAQ: RIGL) have given the company’s stock an average recommendation of “Moderate Buy” for investors to consider purchasing the company’s shares.
A total of eight ratings have been assigned to the stock by research analysts, including four recommendations to buy, four ratings to hold, and four neutral ratings. For the period spanning the next year, brokerage firms that released research on the company in the previous year assigned it an average price estimate of $4.21.
This price estimate is for a period spanning the next year.
Institutional investors and hedge funds recently altered the proportion of the company’s stock in their portfolios.
The $25,000 was spent by Bayesian Capital Management LP in the third quarter on the acquisition of an additional position in Rigel Pharmaceuticals.
The State of Wyoming invested $33,000 in Rigel Pharmaceuticals stock over the last three months of 2018.
The value of Dynamic Advisor Solutions LLC’s holdings in Rigel Pharmaceuticals increased by 39.9% over the final three months of 2018.
After purchasing an additional 6,500 shares of the biotechnology company’s stock during the relevant period, Dynamic Advisor Solutions LLC now owns 22,800 shares.
Based on the current market price, this gives the company a value of approximately $34,000.
Balyasny Asset Management LLC invested in the stock of Rigel Pharmaceuticals for $34,000 during the third quarter of 2018.
During the last three months of 2018, UBS Group AG completed this process by making a new investment of $35,000 in Rigel Pharmaceuticals.
This action served as the final step. Currently, 73.88% of the company’s shares are owned by institutional investors such as hedge funds and other types of institutional investors.
The company has requested comments and suggestions from a wide range of research professionals, and they have provided some of those. Citigroup gave Rigel Pharmaceuticals a “buy” rating in a research report made available to the general public on Thursday, March 9th.
In addition, Citigroup raised its price target for the company.
As of January 5th, the rating for Rigel Pharmaceuticals’ stock on StockNews.com was changed from “hold” to “buy,” indicating an increase in the website’s confidence in the company.
According to a research note released on March 8th, the “buy” rating that HC Wainwright had previously assigned to shares of Rigel Pharmaceuticals was reinstated.
The brokerage firm also set a target price of $15.00 per share for the company’s common stock.
When trading started on Thursday, the share price of Rigel Pharmaceuticals was $1.68.
Moving averages for the past 50 days come in at $1.65 for the company while moving averages for the past 200 days come in at $1.25. Over the past year, the price of a share in Rigel Pharmaceuticals has fluctuated from a low of $0.64 to a high of $3.52.
Both the price-to-earnings ratio and the beta value of the company’s stock are 0.75.
The price-to-earnings ratio is -4.94.
The company’s total value, as represented by its stock on the market, is $291.73 million.
On March 7th, Rigel Pharmaceuticals (NASDAQ: RIGL) released its most recent quarterly earnings report.
The quarterly earnings of the biotechnology company came in at $0.01 per share, which was $0.08 higher than the consensus estimate of $0.07 per share. Or, The company reported sales of $51.28 million for the quarter, which is significantly higher than the estimates provided by industry experts, which were $37.55 million.
The results of the current year’s same quarter come in at a loss of $0.13 per share compared to the same quarter’s results in the prior year.
The analysts who research stocks and shares anticipate that Rigel Pharmaceuticals will experience a loss of -0.3 cents per share over the current year.
Rigel Pharmaceuticals, INC is a biotechnology company currently in the clinical stage of its operations.
In the therapeutic fields of immunology, cancer, and immunological oncology, it investigates and develops new drugs to treat a particular condition.
This company focuses on intracellular signaling networks as well as the targets that are associated with those networks.
Both of these factors play important roles in the pathophysiology of various diseases.