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

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has been given an average recommendation of “Hold” by the five ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $31.30.

Several analysts recently weighed in on RIGL shares. Cantor Fitzgerald restated a “neutral” rating and set a $15.00 price objective on shares of Rigel Pharmaceuticals in a research report on Friday, September 20th. HC Wainwright reissued a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a report on Friday, October 25th. Piper Sandler raised their price target on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Citigroup upped their price objective on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th.

Rigel Pharmaceuticals Price Performance

NASDAQ RIGL opened at $24.31 on Thursday. The business has a fifty day moving average price of $16.70 and a two-hundred day moving average price of $12.60. The stock has a market capitalization of $428.10 million, a PE ratio of 173.66 and a beta of 0.96. Rigel Pharmaceuticals has a fifty-two week low of $7.48 and a fifty-two week high of $29.82.

Hedge Funds Weigh In On Rigel Pharmaceuticals

Several large investors have recently modified their holdings of RIGL. Barclays PLC increased its stake in shares of Rigel Pharmaceuticals by 158.6% in the third quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock valued at $442,000 after buying an additional 16,772 shares during the period. Empire Financial Management Company LLC bought a new stake in Rigel Pharmaceuticals in the third quarter valued at approximately $231,000. Geode Capital Management LLC increased its position in Rigel Pharmaceuticals by 2.3% during 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. State Street Corp raised its holdings in Rigel Pharmaceuticals by 0.7% during the 3rd quarter. State Street Corp now owns 367,795 shares of the biotechnology company’s stock worth $5,951,000 after purchasing an additional 2,552 shares during the last quarter. Finally, PDT Partners LLC bought a new position in Rigel Pharmaceuticals during the 3rd quarter worth approximately $322,000. Institutional investors 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.