Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Receives Consensus Recommendation of "Hold" from Analysts

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report) have received an average rating of "Hold" from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $36.80.

A number of analysts have recently weighed in on RIGL shares. Citigroup upped their price target on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Cantor Fitzgerald lifted their price target on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. B. Riley boosted their target price on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, March 5th. StockNews.com lowered shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 8th. Finally, HC Wainwright reissued a "buy" rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 5th.

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Rigel Pharmaceuticals Price Performance

Shares of RIGL stock traded down $0.17 during trading hours on Wednesday, reaching $20.20. The stock had a trading volume of 674,225 shares, compared to its average volume of 201,895. The firm has a market capitalization of $360.83 million, a PE ratio of 144.30 and a beta of 1.35. The firm has a 50-day simple moving average of $20.91 and a 200-day simple moving average of $18.98. Rigel Pharmaceuticals has a twelve month low of $7.48 and a twelve month high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.30 by $0.50. The company had revenue of $57.60 million for the quarter, compared to analyst estimates of $57.59 million. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. On average, equities analysts anticipate that Rigel Pharmaceuticals will post 0.22 earnings per share for the current year.

Insider Buying and Selling at Rigel Pharmaceuticals

In related news, EVP David A. Santos sold 2,125 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $44,455.00. Following the transaction, the executive vice president now owns 53,500 shares of the company's stock, valued at approximately $1,119,220. The trade was a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Raul R. Rodriguez sold 4,952 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $103,595.84. Following the transaction, the chief executive officer now directly owns 243,854 shares of the company's stock, valued at $5,101,425.68. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,113 shares of company stock worth $190,644 over the last 90 days. Insiders own 9.04% of the company's stock.

Institutional Trading of Rigel Pharmaceuticals

Several institutional investors have recently made changes to their positions in RIGL. PDT Partners LLC acquired a new stake in Rigel Pharmaceuticals in the 3rd quarter valued at $322,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Rigel Pharmaceuticals by 29.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 98,006 shares of the biotechnology company's stock valued at $1,586,000 after purchasing an additional 22,443 shares during the period. Barclays PLC boosted its stake in Rigel Pharmaceuticals by 158.6% in the third quarter. Barclays PLC now owns 27,345 shares of the biotechnology company's stock valued at $442,000 after acquiring an additional 16,772 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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 purchasing an additional 8,140 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Rigel Pharmaceuticals by 42.8% during the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock worth $159,000 after buying an additional 2,827 shares during the last quarter. 66.23% of the stock is currently owned by institutional investors and hedge funds.

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.