Brokerages Set Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Target Price at $34.20

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $36.20.

A number of equities research analysts have issued reports on RIGL shares. HC Wainwright restated a “buy” rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a report on Tuesday. StockNews.com upgraded Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. Cantor Fitzgerald raised their price objective on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday. B. Riley upped their target price on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Piper Sandler raised their price target on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th.

Rigel Pharmaceuticals Stock Down 5.0 %

Shares of RIGL stock opened at $19.53 on Monday. The business’s 50 day moving average is $19.90 and its two-hundred day moving average is $14.24. Rigel Pharmaceuticals has a 12 month low of $7.48 and a 12 month high of $29.82. The company has a market cap of $344.02 million, a PE ratio of 139.50 and a beta of 1.22.

Institutional Investors Weigh In On Rigel Pharmaceuticals

A number of institutional investors have recently bought and sold shares of RIGL. Franklin Resources Inc. acquired a new stake in shares of Rigel Pharmaceuticals during the 3rd quarter valued at about $193,000. Barclays PLC lifted its stake in Rigel Pharmaceuticals by 158.6% during the third quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock worth $442,000 after purchasing an additional 16,772 shares during the period. Empire Financial Management Company LLC acquired a new stake in Rigel Pharmaceuticals during the third quarter valued at approximately $231,000. Geode Capital Management LLC grew its stake in shares of Rigel Pharmaceuticals by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 399,663 shares of the biotechnology company’s stock valued at $6,468,000 after purchasing an additional 8,881 shares during the period. Finally, State Street Corp raised its holdings in shares of Rigel Pharmaceuticals by 0.7% in the 3rd 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. Institutional investors and hedge funds own 66.23% of the company’s stock.

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.