Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Given Consensus Rating of “Hold” by Analysts

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have been given a consensus rating of “Hold” by the five analysts that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $36.80.

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

Insider Buying and Selling

In other Rigel Pharmaceuticals news, CEO Raul R. Rodriguez sold 4,952 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total value of $103,595.84. Following the sale, the chief executive officer now directly owns 243,854 shares of the company’s stock, valued at approximately $5,101,425.68. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dean L. Schorno sold 2,036 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $42,593.12. Following the transaction, the chief financial officer now owns 58,969 shares of the company’s stock, valued at $1,233,631.48. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,113 shares of company stock worth $190,644 in the last 90 days. Insiders own 9.04% of the company’s stock.

Institutional Inflows and Outflows

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

Rigel Pharmaceuticals Stock Performance

NASDAQ RIGL opened at $18.91 on Wednesday. The stock has a market cap of $337.79 million, a P/E ratio of 135.08 and a beta of 1.35. Rigel Pharmaceuticals has a fifty-two week low of $7.48 and a fifty-two week high of $29.82. The stock has a 50 day simple moving average of $21.02 and a two-hundred day simple moving average of $19.15.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.50. The company had revenue of $57.60 million during the quarter, compared to analyst estimates of $57.59 million. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. Sell-side analysts predict 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.