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

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report) have received an average rating of "Hold" from the five analysts that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $36.80.

A number of equities research analysts have recently commented on the company. HC Wainwright restated a "buy" rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 5th. B. Riley raised their price objective on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. Citigroup increased their target price on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, StockNews.com cut shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 8th.

Insider Buying and Selling

In related news, CFO Dean L. Schorno sold 2,036 shares of the firm'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 $42,593.12. Following the completion of the sale, the chief financial officer now directly owns 58,969 shares in the company, valued at approximately $1,233,631.48. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David A. Santos sold 2,125 shares of the business'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 $44,455.00. Following the completion of the transaction, the executive vice president now owns 53,500 shares in the company, valued at $1,119,220. The trade was a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,113 shares of company stock worth $190,644. 9.04% of the stock is owned by insiders.

Remove Ads

Institutional Trading of Rigel Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in RIGL. China Universal Asset Management Co. Ltd. purchased a new position in Rigel Pharmaceuticals in the fourth quarter worth approximately $63,000. Wells Fargo & Company MN boosted its stake in Rigel Pharmaceuticals by 44.5% during the fourth quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company's stock worth $145,000 after buying an additional 2,648 shares during the period. SG Americas Securities LLC increased its position in shares of Rigel Pharmaceuticals by 42.8% during the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock valued at $159,000 after acquiring an additional 2,827 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in shares of Rigel Pharmaceuticals during the fourth quarter valued at about $170,000. Finally, Integrated Quantitative Investments LLC purchased a new stake in shares of Rigel Pharmaceuticals in the 4th quarter valued at approximately $181,000. Institutional investors and hedge funds own 66.23% of the company's stock.

Rigel Pharmaceuticals Price Performance

RIGL stock traded down $0.55 during trading on Friday, hitting $16.49. 186,409 shares of the company traded hands, compared to its average volume of 209,530. Rigel Pharmaceuticals has a 1 year low of $7.48 and a 1 year high of $29.82. The company has a market cap of $294.56 million, a PE ratio of 117.79 and a beta of 1.32. The stock's 50-day simple moving average is $19.65 and its 200 day simple moving average is $19.46.

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

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.