Raul R. Rodriguez Sells 4,952 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Stock

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) CEO Raul R. Rodriguez sold 4,952 shares of Rigel Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $103,595.84. Following the completion of the transaction, the chief executive officer now owns 243,854 shares of the company’s stock, valued at approximately $5,101,425.68. This represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Rigel Pharmaceuticals Stock Down 10.0 %

Shares of RIGL opened at $21.94 on Friday. Rigel Pharmaceuticals, Inc. has a 52-week low of $7.48 and a 52-week high of $29.82. The stock has a market cap of $386.47 million, a PE ratio of 156.73 and a beta of 1.34. The firm’s fifty day moving average is $19.85 and its two-hundred day moving average is $17.03.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.69. The company had revenue of $55.31 million during the quarter, compared to analysts’ expectations 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 company earned ($0.30) EPS. As a group, research analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. purchased a new position in Rigel Pharmaceuticals during the third quarter worth approximately $7,148,000. Los Angeles Capital Management LLC raised its holdings in shares of Rigel Pharmaceuticals by 34.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company’s stock worth $1,205,000 after acquiring an additional 19,094 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of 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 acquiring an additional 22,443 shares during the last quarter. FMR LLC grew its holdings in shares of Rigel Pharmaceuticals by 119.4% in the third quarter. FMR LLC now owns 48,105 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 26,184 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Rigel Pharmaceuticals by 1,199.2% during the third quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock worth $340,000 after purchasing an additional 19,391 shares during the last quarter. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on RIGL shares. StockNews.com upgraded Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. B. Riley boosted 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. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, January 22nd. Cantor Fitzgerald boosted their target price on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Citigroup upped their price target on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Three research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.