Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) had its price target hoisted by analysts at B. Riley from $17.00 to $27.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the biotechnology company's stock. B. Riley's price objective would suggest a potential upside of 6.09% from the stock's previous close.
A number of other equities analysts have also commented on the stock. Piper Sandler raised their price target on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. StockNews.com raised shares of Rigel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, October 18th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $15.00 price target on shares of Rigel Pharmaceuticals in a research note on Friday, September 20th. HC Wainwright restated a "buy" rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research note on Friday, October 25th. Finally, Citigroup upped their target price on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Rigel Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $34.20.
Get Our Latest Stock Analysis on Rigel Pharmaceuticals
Rigel Pharmaceuticals Stock Performance
Shares of NASDAQ RIGL traded down $0.58 during mid-day trading on Friday, hitting $25.45. 101,050 shares of the stock were exchanged, compared to its average volume of 315,411. The company has a market cap of $448.17 million, a P/E ratio of 181.80 and a beta of 1.22. The stock's fifty day simple moving average is $19.62 and its two-hundred day simple moving average is $13.99. Rigel Pharmaceuticals has a twelve month low of $7.48 and a twelve month high of $29.82.
Institutional Investors Weigh In On Rigel Pharmaceuticals
Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Rigel Pharmaceuticals by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company's stock valued at $13,864,000 after purchasing an additional 414,207 shares during the last quarter. Ground Swell Capital LLC acquired a new position in Rigel Pharmaceuticals during the 2nd quarter worth about $141,000. Assenagon Asset Management S.A. acquired a new stake in shares of Rigel Pharmaceuticals in the third quarter valued at about $7,148,000. Los Angeles Capital Management LLC raised its position in shares of Rigel Pharmaceuticals by 34.5% during the third quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company's stock worth $1,205,000 after acquiring an additional 19,094 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Rigel Pharmaceuticals by 29.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 98,006 shares of the biotechnology company's stock worth $1,586,000 after acquiring an additional 22,443 shares during the period. Institutional investors and hedge funds own 66.23% of the company's stock.
About Rigel Pharmaceuticals
(
Get Free Report)
Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing therapies that enhance the lives of patients with hematologic disorders and cancer. The company's commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; Rezlidhia, a non-intensive monotherapy for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer, as well as for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.
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