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

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have been given a consensus recommendation of “Hold” by the five research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $36.20.

A number of brokerages recently commented on RIGL. HC Wainwright reiterated a “buy” rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 22nd. Citigroup lifted their price objective on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com downgraded Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Cantor Fitzgerald lifted their price objective on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, B. Riley lifted their target price on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, December 6th.

Insider Buying and Selling at Rigel Pharmaceuticals

In other Rigel Pharmaceuticals news, CEO Raul R. Rodriguez sold 4,952 shares of Rigel Pharmaceuticals 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 owns 243,854 shares in the company, valued at $5,101,425.68. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David A. Santos sold 2,125 shares of Rigel Pharmaceuticals stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $44,455.00. Following the completion of the sale, the executive vice president now directly owns 53,500 shares of the company’s stock, 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. Insiders have sold 9,113 shares of company stock worth $190,644 over the last quarter. 9.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rigel Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Rigel Pharmaceuticals in the fourth quarter valued at $676,000. Soleus Capital Management L.P. grew its stake in shares of Rigel Pharmaceuticals by 21.0% in the fourth quarter. Soleus Capital Management L.P. now owns 1,130,679 shares of the biotechnology company’s stock valued at $19,018,000 after buying an additional 195,891 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Rigel Pharmaceuticals by 40.1% in the fourth quarter. Squarepoint Ops LLC now owns 63,416 shares of the biotechnology company’s stock valued at $1,067,000 after buying an additional 18,159 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Rigel Pharmaceuticals by 63.0% in the fourth quarter. Two Sigma Advisers LP now owns 63,128 shares of the biotechnology company’s stock valued at $1,062,000 after buying an additional 24,400 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Rigel Pharmaceuticals in the fourth quarter valued at $1,025,000. 66.23% of the stock is owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Stock Performance

Shares of Rigel Pharmaceuticals stock opened at $23.06 on Friday. Rigel Pharmaceuticals has a one year low of $7.48 and a one year high of $29.82. The company has a market cap of $406.20 million, a price-to-earnings ratio of 164.73 and a beta of 1.34. The business’s 50 day moving average price is $19.79 and its 200 day moving average price is $18.18.

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.