Somewhat Positive News Coverage Somewhat Unlikely to Impact Rigel Pharmaceuticals (RIGL) Share Price

News articles about Rigel Pharmaceuticals (NASDAQ:RIGL) have trended somewhat positive on Monday, according to Accern. The research group identifies negative and positive press coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Rigel Pharmaceuticals earned a news sentiment score of 0.18 on Accern’s scale. Accern also gave news coverage about the biotechnology company an impact score of 46.7040340498601 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

Shares of Rigel Pharmaceuticals stock traded up $0.05 on Monday, hitting $3.59. 704,062 shares of the company’s stock were exchanged, compared to its average volume of 1,303,027. The stock has a market capitalization of $521.69, a PE ratio of -5.81 and a beta of 1.32. Rigel Pharmaceuticals has a 1 year low of $2.14 and a 1 year high of $4.71.

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Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.05). During the same period last year, the firm posted ($0.16) EPS. equities research analysts expect that Rigel Pharmaceuticals will post -0.64 EPS for the current fiscal year.

RIGL has been the topic of several research reports. BidaskClub cut shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, March 15th. Zacks Investment Research cut shares of Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, March 10th. HC Wainwright set a $7.00 target price on shares of Rigel Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, March 7th. Cantor Fitzgerald restated a “buy” rating and issued a $7.00 target price on shares of Rigel Pharmaceuticals in a report on Tuesday, March 6th. Finally, ValuEngine upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $5.71.

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About Rigel Pharmaceuticals

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 fostamatinib, an oral spleen tyrosine kinase inhibitor for immune thrombocytopenia purpura; and Phase II clinical study for autoimmune hemolytic anemia and immunoglobulin a nephropathy.

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