Brokerages Set Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) PT at $36.20

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGLGet Free Report) has been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $36.20.

Several brokerages have weighed in on RIGL. StockNews.com raised Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. HC Wainwright reissued a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, January 22nd. Citigroup boosted their price objective on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. B. Riley increased their target price on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Cantor Fitzgerald boosted their price target on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th.

View Our Latest Report on RIGL

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of 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 purchasing an additional 1,485 shares during the period. State Street Corp grew its position in Rigel Pharmaceuticals by 0.7% during the third quarter. State Street Corp now owns 367,795 shares of the biotechnology company’s stock worth $5,951,000 after buying an additional 2,552 shares in the last quarter. SG Americas Securities LLC increased its stake in Rigel Pharmaceuticals by 42.8% in the 4th quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock worth $159,000 after acquiring an additional 2,827 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Rigel Pharmaceuticals in the 4th quarter valued at about $63,000. Finally, Stonepine Capital Management LLC boosted its position in shares of Rigel Pharmaceuticals by 1.3% during the 3rd quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company’s stock valued at $5,001,000 after acquiring an additional 4,100 shares during the last quarter. 66.23% of the stock is owned by institutional investors.

Rigel Pharmaceuticals Price Performance

Shares of Rigel Pharmaceuticals stock opened at $22.60 on Tuesday. The firm has a market cap of $398.10 million, a PE ratio of 161.44 and a beta of 1.31. Rigel Pharmaceuticals has a 1 year low of $7.48 and a 1 year high of $29.82. The stock has a fifty day moving average price of $20.44 and a 200-day moving average price of $16.54.

Rigel Pharmaceuticals (NASDAQ:RIGLGet Free Report) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.01 by $0.69. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. The business had revenue of $55.31 million for the quarter, compared to analyst estimates of $40.69 million. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. As a group, equities analysts anticipate that Rigel Pharmaceuticals will post 0.22 EPS for the current fiscal year.

About Rigel Pharmaceuticals

(Get Free Report

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.

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Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

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