Rigel Pharmaceuticals' (RIGL) "Buy" Rating Reaffirmed at HC Wainwright

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report)'s stock had its "buy" rating restated by equities researchers at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $57.00 price objective on the biotechnology company's stock. HC Wainwright's price objective would suggest a potential upside of 241.52% from the stock's previous close.

Other analysts have also issued reports about the company. Cantor Fitzgerald boosted their target price on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. StockNews.com upgraded Rigel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 18th. Piper Sandler increased their target price 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. Citigroup boosted their price target on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Finally, B. Riley upped their price target on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Rigel Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.20.

Rigel Pharmaceuticals Stock Down 2.5 %

RIGL traded down $0.42 during trading on Tuesday, hitting $16.69. 206,434 shares of the company traded hands, compared to its average volume of 242,879. The firm has a market cap of $293.99 million, a P/E ratio of 119.22 and a beta of 1.31. Rigel Pharmaceuticals has a one year low of $7.48 and a one year high of $29.82. The stock's fifty day moving average is $20.94 and its 200 day moving average is $15.53.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RIGL. Franklin Resources Inc. purchased a new stake in shares of Rigel Pharmaceuticals in the third quarter worth $193,000. Empire Financial Management Company LLC bought a new stake in shares of Rigel Pharmaceuticals during the 3rd quarter valued at about $231,000. PDT Partners LLC purchased a new position in shares of Rigel Pharmaceuticals during the third quarter worth about $322,000. BNP Paribas Financial Markets raised its stake in Rigel Pharmaceuticals by 1,199.2% in the third quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company's stock valued at $340,000 after purchasing an additional 19,391 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Rigel Pharmaceuticals by 45.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,238 shares of the biotechnology company's stock worth $425,000 after buying an additional 8,140 shares in the last quarter. 66.23% of the stock is owned by institutional investors.

Rigel Pharmaceuticals Company Profile

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.