Jefferies Group LLC reaffirmed their buy rating on shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in a research report released on Wednesday. Jefferies Group LLC currently has a $5.00 price target on the biotechnology company’s stock.

Several other research firms also recently commented on RIGL. ValuEngine upgraded shares of Rigel Pharmaceuticals from a strong sell rating to a sell rating in a research note on Monday. BMO Capital Markets restated a buy rating and issued a $5.00 price target on shares of Rigel Pharmaceuticals in a research note on Monday. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday. Finally, BidaskClub downgraded shares of Rigel Pharmaceuticals from a sell rating to a strong sell rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Rigel Pharmaceuticals presently has an average rating of Hold and a consensus target price of $6.75.

Rigel Pharmaceuticals (NASDAQ:RIGL) traded up 7.73% during trading on Wednesday, hitting $3.90. 13,351,878 shares of the stock were exchanged. The firm has a 50-day moving average of $2.49 and a 200-day moving average of $2.64. The stock’s market capitalization is $485.13 million. Rigel Pharmaceuticals has a 52 week low of $1.94 and a 52 week high of $4.03.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.01). Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 105.86%. During the same quarter last year, the company earned ($0.15) earnings per share. Equities research analysts anticipate that Rigel Pharmaceuticals will post ($0.60) earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Rigel Pharmaceuticals, Inc. (RIGL) Receives Buy Rating from Jefferies Group LLC” was first posted by Marea Informative and is owned by of Marea Informative. If you are reading this report on another site, it was stolen and reposted in violation of US & international copyright law. The legal version of this report can be accessed at http://www.mareainformativa.com/rigel-pharmaceuticals-inc-rigl-receives-buy-rating-from-jefferies-group-llc/117943/.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Paulson & CO. Inc. lifted its position in Rigel Pharmaceuticals by 20.4% during the second quarter. Paulson & CO. Inc. now owns 662,056 shares of the biotechnology company’s stock worth $1,807,000 after purchasing an additional 112,056 shares during the period. The Manufacturers Life Insurance Company lifted its position in Rigel Pharmaceuticals by 16.2% during the second quarter. The Manufacturers Life Insurance Company now owns 99,023 shares of the biotechnology company’s stock worth $270,000 after purchasing an additional 13,838 shares during the period. State Street Corp lifted its position in Rigel Pharmaceuticals by 4.3% during the second quarter. State Street Corp now owns 2,188,997 shares of the biotechnology company’s stock worth $5,974,000 after purchasing an additional 90,640 shares during the period. Macquarie Group Ltd. lifted its position in Rigel Pharmaceuticals by 19.3% during the second quarter. Macquarie Group Ltd. now owns 635,000 shares of the biotechnology company’s stock worth $1,734,000 after purchasing an additional 102,792 shares during the period. Finally, Voya Investment Management LLC lifted its position in Rigel Pharmaceuticals by 30.4% during the second quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock worth $146,000 after purchasing an additional 12,500 shares during the period. 88.17% of the stock is owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

Receive News & Stock Ratings for Rigel Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigel Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.