Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Receives $36.20 Average Target Price from Analysts

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report) have been assigned an average recommendation of "Hold" from the five analysts that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $36.20.

Several research firms have recently commented on RIGL. HC Wainwright reaffirmed a "buy" rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 22nd. B. Riley lifted their price target on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Cantor Fitzgerald raised their price target on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a "neutral" rating in a report 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. Finally, 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 report on Thursday, November 14th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RIGL. Rhumbline Advisers boosted its holdings in Rigel Pharmaceuticals by 6.3% in the fourth quarter. Rhumbline Advisers now owns 25,143 shares of the biotechnology company's stock worth $423,000 after acquiring an additional 1,485 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Rigel Pharmaceuticals during the 4th quarter worth approximately $63,000. SG Americas Securities LLC increased its stake in Rigel Pharmaceuticals by 42.8% during the 4th 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. JPMorgan Chase & Co. grew its stake in Rigel Pharmaceuticals by 45.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 26,238 shares of the biotechnology company's stock valued at $425,000 after purchasing an additional 8,140 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new position in Rigel Pharmaceuticals in the 3rd quarter worth approximately $193,000. Institutional investors own 66.23% of the company's stock.

Rigel Pharmaceuticals Stock Down 4.6 %

Shares of Rigel Pharmaceuticals stock traded down $1.03 on Tuesday, hitting $21.57. The stock had a trading volume of 87,003 shares, compared to its average volume of 217,789. The stock has a market cap of $379.78 million, a price-to-earnings ratio of 154.01 and a beta of 1.31. The stock's 50-day simple moving average is $20.44 and its two-hundred day simple moving average is $16.54. Rigel Pharmaceuticals has a one year low of $7.48 and a one year high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.70 EPS 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 analyst estimates of $40.69 million. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. During the same quarter in the prior year, the company posted ($0.30) EPS. As a group, equities analysts predict that Rigel Pharmaceuticals will post 0.22 EPS for the current fiscal 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.