Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Receives $36.20 Consensus Target Price from Analysts

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have been given an average recommendation of “Hold” by the five research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $36.20.

RIGL has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research note on Tuesday, December 10th. StockNews.com upgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. Citigroup upped their target price 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. Piper Sandler raised their price target on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald upped their price objective on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th.

Institutional Trading of Rigel Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Rigel Pharmaceuticals by 45.0% in the third quarter. JPMorgan Chase & Co. now owns 26,238 shares of the biotechnology company’s stock worth $425,000 after buying an additional 8,140 shares during the period. Franklin Resources Inc. purchased a new position in Rigel Pharmaceuticals in the 3rd quarter worth approximately $193,000. Barclays PLC lifted its position in 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 purchasing an additional 16,772 shares during the last quarter. Empire Financial Management Company LLC purchased a new stake in shares of Rigel Pharmaceuticals during the third quarter valued at approximately $231,000. Finally, Geode Capital Management LLC grew its holdings in shares of Rigel Pharmaceuticals by 2.3% in the third quarter. Geode Capital Management LLC now owns 399,663 shares of the biotechnology company’s stock worth $6,468,000 after purchasing an additional 8,881 shares during the last quarter. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals Trading Up 3.0 %

Shares of RIGL opened at $17.09 on Friday. 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 $301.04 million, a PE ratio of 122.08 and a beta of 1.31. The stock has a 50-day moving average price of $20.74 and a 200-day moving average price of $15.31.

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.