Rigel Pharmaceuticals (NASDAQ:RIGL – Free Report) had its target price raised by Citigroup from $83.00 to $86.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.
Several other research analysts have also weighed in on the stock. HC Wainwright restated a “buy” rating and set a $85.00 price objective on shares of Rigel Pharmaceuticals in a research note on Monday, October 19th. Zacks Research cut shares of Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. Weiss Ratings raised shares of Rigel Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Cantor Fitzgerald boosted their target price on Rigel Pharmaceuticals from $43.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, November 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $49.00 target price (up from $40.00) on shares of Rigel Pharmaceuticals in a report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $66.75.
Read Our Latest Stock Analysis on RIGL
Rigel Pharmaceuticals Stock Performance
RIGL opened at $44.52 on Monday. Rigel Pharmaceuticals has a 52 week low of $24.95 and a 52 week high of $52.60. The firm has a market capitalization of $838.31 million, a PE ratio of 2.87 and a beta of 1.28. The company has a fifty day moving average price of $47.60 and a two-hundred day moving average price of $37.56.
Rigel Pharmaceuticals (NASDAQ:RIGL – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.27). Rigel Pharmaceuticals had a return on equity of 14.89% and a net margin of 106.59%. The firm had revenue of $80.89 million for the quarter, compared to the consensus estimate of $80.00 million. Equities analysts forecast that Rigel Pharmaceuticals will post 2.97 EPS for the current year.
Institutional Trading of Rigel Pharmaceuticals
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Rigel Pharmaceuticals during the second quarter valued at approximately $75,886,000. Assenagon Asset Management S.A. purchased a new stake in Rigel Pharmaceuticals during the 3rd quarter valued at $25,793,000. Bank of America Corp DE bought a new stake in shares of Rigel Pharmaceuticals during the 2nd quarter worth approximately $4,832,000. Globeflex Capital L P bought a new stake in shares of Rigel Pharmaceuticals during the second quarter valued at approximately $4,408,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Rigel Pharmaceuticals during the second quarter valued at approximately $4,233,000. Hedge funds and other institutional investors own 66.23% of the company’s stock.
Rigel Pharmaceuticals Company Profile
Rigel Pharmaceuticals, Inc. is a biotechnology company that discovers, develops and commercializes medicines for people with serious hematologic disorders and cancers. Founded in 1996 and based in South San Francisco, California, the company has focused on treatments that target biological pathways involved in disease. Rigel’s marketed products include Tavalisse (fostamatinib), an oral treatment for adults with chronic immune thrombocytopenia who have had an insufficient response to prior treatment, and Rezlidhia (olutasidenib), an oral therapy for certain adults with relapsed or refractory acute myeloid leukemia containing an IDH1 mutation.
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