Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) EVP Sells $44,455.00 in Stock

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report) EVP David A. Santos sold 2,125 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total value of $44,455.00. Following the transaction, the executive vice president now owns 53,500 shares in the company, valued at approximately $1,119,220. This trade represents a 3.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Rigel Pharmaceuticals Stock Down 2.2 %

NASDAQ RIGL traded down $0.48 on Monday, hitting $21.46. The company's stock had a trading volume of 217,760 shares, compared to its average volume of 263,452. The firm has a market cap of $377.91 million, a PE ratio of 153.30 and a beta of 1.34. The company's 50-day moving average is $19.85 and its 200 day moving average is $17.12. Rigel Pharmaceuticals, Inc. has a 1-year low of $7.48 and a 1-year high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last released its earnings results on Thursday, November 7th. The biotechnology company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.69. The business had revenue of $55.31 million during the quarter, compared to the consensus estimate of $40.69 million. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. During the same quarter in the prior year, the firm posted ($0.30) EPS. On average, equities analysts expect that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

Institutional Trading of Rigel Pharmaceuticals

Large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. bought a new position in shares of Rigel Pharmaceuticals during the 4th quarter worth approximately $63,000. SG Americas Securities LLC increased its stake in Rigel Pharmaceuticals by 42.8% in the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock valued at $159,000 after purchasing an additional 2,827 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Rigel Pharmaceuticals during the third quarter valued at about $193,000. Empire Financial Management Company LLC bought a new position in shares of Rigel Pharmaceuticals during the 3rd quarter worth about $231,000. Finally, PDT Partners LLC acquired a new stake in shares of Rigel Pharmaceuticals in the 3rd quarter valued at about $322,000. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on RIGL shares. HC Wainwright restated a "buy" rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 22nd. Citigroup raised their price objective on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Cantor Fitzgerald boosted their target price on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Piper Sandler lifted their price target on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Finally, B. Riley upped their price target on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.20.

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.