Rigel Pharmaceuticals (NASDAQ:RIGL – Get Rating)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $15.00 price target on the biotechnology company’s stock.
Several other research analysts have also commented on the company. Citigroup upgraded Rigel Pharmaceuticals from a “neutral” rating to a “buy” rating in a research report on Friday, December 2nd. StockNews.com raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, January 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.21.
Rigel Pharmaceuticals Price Performance
Shares of RIGL opened at $1.68 on Wednesday. The business has a 50-day moving average of $1.64 and a 200-day moving average of $1.26. Rigel Pharmaceuticals has a 1 year low of $0.64 and a 1 year high of $3.52. The company has a market capitalization of $290.37 million, a price-to-earnings ratio of -4.94 and a beta of 0.75.
Institutional Trading of Rigel Pharmaceuticals
A number of large investors have recently bought and sold shares of the business. State Street Corp increased its position in Rigel Pharmaceuticals by 218.2% during the 2nd quarter. State Street Corp now owns 23,945,568 shares of the biotechnology company’s stock worth $27,058,000 after buying an additional 16,421,362 shares during the period. Armistice Capital LLC boosted its position in Rigel Pharmaceuticals by 391.1% in the fourth quarter. Armistice Capital LLC now owns 16,956,000 shares of the biotechnology company’s stock worth $25,434,000 after purchasing an additional 13,503,126 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Rigel Pharmaceuticals by 14.0% during the 3rd quarter. Vanguard Group Inc. now owns 11,942,196 shares of the biotechnology company’s stock valued at $14,092,000 after buying an additional 1,463,026 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Rigel Pharmaceuticals by 1.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 4,409,833 shares of the biotechnology company’s stock worth $13,185,000 after acquiring an additional 77,225 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Rigel Pharmaceuticals by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 3,149,470 shares of the biotechnology company’s stock worth $4,724,000 after acquiring an additional 63,062 shares during the last quarter. 73.88% of the stock is owned by institutional investors.
Rigel Pharmaceuticals Company Profile
Rigel Pharmaceuticals, Inc operates as a clinical stage biotechnology company. It discovers and develops novel, targeted drugs in the therapeutic areas of immunology, oncology and immune oncology. The firm focuses on intracellular signalling pathways and related targets that are critical to disease mechanisms.
- Get a free copy of the StockNews.com research report on Rigel Pharmaceuticals (RIGL)
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