Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) insider Anne-Marie Duliege sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $2.69, for a total value of $13,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) traded up 6.07% during mid-day trading on Monday, hitting $2.62. The company’s stock had a trading volume of 976,086 shares. The stock’s market cap is $320.78 million. Rigel Pharmaceuticals, Inc. has a 52-week low of $1.94 and a 52-week high of $4.38. The company’s 50 day moving average is $2.56 and its 200-day moving average is $2.63.
Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of $3.58 million during the quarter, compared to the consensus estimate of $4.30 million. Rigel Pharmaceuticals had a negative return on equity of 96.24% and a negative net margin of 354.14%. During the same period last year, the company earned ($0.19) EPS. On average, equities analysts predict that Rigel Pharmaceuticals, Inc. will post ($0.54) EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Rigel Pharmaceuticals by 4.6% in the fourth quarter. FMR LLC now owns 14,833,279 shares of the biotechnology company’s stock worth $35,303,000 after buying an additional 652,133 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Rigel Pharmaceuticals during the fourth quarter worth approximately $459,000. Marshall Wace North America L.P. purchased a new position in shares of Rigel Pharmaceuticals during the first quarter worth approximately $5,935,000. Palo Alto Investors LLC raised its position in shares of Rigel Pharmaceuticals by 1.9% in the first quarter. Palo Alto Investors LLC now owns 4,254,623 shares of the biotechnology company’s stock worth $14,083,000 after buying an additional 78,000 shares during the last quarter. Finally, State Street Corp raised its position in shares of Rigel Pharmaceuticals by 7.1% in the fourth quarter. State Street Corp now owns 1,712,369 shares of the biotechnology company’s stock worth $4,070,000 after buying an additional 112,796 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on RIGL. Zacks Investment Research cut Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, April 29th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, May 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $5.00 price target (up previously from $4.00) on shares of Rigel Pharmaceuticals in a report on Monday, June 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $5.88.
Rigel Pharmaceuticals Company Profile
Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.
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