Rigel Pharmaceuticals (RIGL) In Focus: Stock Moves 12.1% Higher

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) was a big mover last session, as the company saw its shares rise more than 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 52.7% in the past one-month time frame.

The stock gained after the company announced the pricing of its previously announced underwritten public offering of 18,100,000 shares of its common stock, offered at a price of $3.35 per share to the public.

The company has seen x negative estimate revisions in the past few weeks/months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks/months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Rigel Pharmaceuticalscurrently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Rigel Pharmaceuticals, Inc. Price

A better-ranked stock in the Medical sector is Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is RIGL going up? Or down? Predict to see what others think: Up or Down

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