The stock of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) is a huge mover today! About 675,287 shares traded hands. Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has risen 74.89% since March 8, 2016 and is uptrending. It has outperformed by 65.57% the S&P500.
The move comes after 7 months negative chart setup for the $363.07M company. It was reported on Oct, 11 by Barchart.com. We have $3.26 PT which if reached, will make NASDAQ:RIGL worth $50.83M less.
Analysts await Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) to report earnings on November, 1. They expect $-0.19 EPS, down 137.50% or $0.11 from last year’s $-0.08 per share. After $-0.15 actual EPS reported by Rigel Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts 26.67% negative EPS growth.
Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Ratings Coverage
Out of 4 analysts covering Rigel Pharmaceuticals (NASDAQ:RIGL), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Rigel Pharmaceuticals has been the topic of 7 analyst reports since August 8, 2015 according to StockzIntelligence Inc. As per Tuesday, August 30, the company rating was maintained by Piper Jaffray. The stock of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) earned “Buy” rating by Jefferies on Monday, May 16. The stock of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has “Buy” rating given on Wednesday, July 13 by H.C. Wainwright. On Wednesday, August 31 the stock rating was maintained by H.C. Wainwright with “Buy”. The stock of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) earned “Hold” rating by Zacks on Saturday, August 8. BMO Capital Markets maintained the stock with “Outperform” rating in Wednesday, August 31 report. Piper Jaffray initiated Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) on Monday, June 13 with “Overweight” rating.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 1.32 in Q2 2016. Its down 0.07, from 1.39 in 2016Q1. The ratio is negative, as 10 funds sold all Rigel Pharmaceuticals, Inc. shares owned while 31 reduced positions. 14 funds bought stakes while 40 increased positions. They now own 82.36 million shares or 1.95% more from 80.79 million shares in 2016Q1.
Citigroup Inc has 20,357 shares for 0% of their US portfolio. Goldman Sachs Gp holds 0% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 110,242 shares. Blackrock Invest Mngmt holds 346,722 shares or 0% of its portfolio. Citadel Lc accumulated 1.11M shares or 0% of the stock. Employees Retirement Association Of Colorado has invested 0% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL). State Board Of Administration Of Florida Retirement has 0% invested in the company for 81,934 shares. Ghost Tree Cap Ltd Llc has 800,000 shares for 0.52% of their US portfolio. Bnp Paribas Arbitrage Sa holds 0% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 3,615 shares. Blackrock Group has 0% invested in the company for 76,149 shares. Panagora Asset Management Incorporated, a Massachusetts-based fund reported 148,507 shares. Parametric Port Associate Ltd Company accumulated 129,067 shares or 0% of the stock. Smith Asset Management Grp Lp holds 94,380 shares or 0.01% of its portfolio. Metropolitan Life Ins Communication Ny last reported 67,993 shares in the company. Dafna Capital Mngmt Ltd Liability has invested 3.26% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL). Tiaa Cref Invest Mgmt Ltd Liability Corp, a New York-based fund reported 728,544 shares.
Insider Transactions: Since August 30, 2016, the stock had 0 insider buys, and 1 insider sale for $21,214 net activity. Shares for $21,214 were sold by PAYAN DONALD G.
More recent Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) news were published by: Prnewswire.com which released: “Rigel Pharmaceuticals, Inc. Announces Inducement Grants under NASDAQ Listing …” on October 11, 2016. Also Fool.com published the news titled: “Here’s Why Rigel Pharmaceuticals, Inc. is Skyrocketing Today” on August 30, 2016. Prnewswire.com‘s news article titled: “Rigel Restructures to Focus on Fostamatinib Commercialization” with publication date: September 15, 2016 was also an interesting one.
RIGL Company Profile
Rigel Pharmaceuticals, Inc., incorporated on June 14, 1996, is a clinical-stage biotechnology company. The Firm is engaged in the discovery and development of targeted drugs in the therapeutic areas of immunology, oncology and immuno-oncology. The Company’s clinical programs include fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, which is in Phase III clinical trials for immune thrombocytopenic purpura (ITP); a Phase II clinical trial for autoimmune hemolytic anemia (AIHA), and a Phase II clinical trial for IgA nephropathy (IgAN). The Firm has approximately two oncology product candidates in Phase I development. The Firm is also engaged in conducting research in the disease areas of inflammation/immunology, and muscle wasting/muscle endurance, among others.
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