Rigel Pharmaceuticals (NASDAQ:RIGL) Director Kamil Ali-Jackson Sells 2,500 Shares of Stock

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Director Kamil Ali-Jackson sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $29.17, for a total value of $72,925.00. Following the sale, the director owned 12,625 shares of the company’s stock, valued at approximately $368,271.25. This trade represents a 16.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rigel Pharmaceuticals Stock Performance

RIGL opened at $30.05 on Friday. The company has a market cap of $555.93 million, a PE ratio of 1.61 and a beta of 1.21. The stock has a 50-day moving average of $28.80 and a 200-day moving average of $35.31. Rigel Pharmaceuticals, Inc. has a 52-week low of $18.14 and a 52-week high of $52.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.48 and a current ratio of 2.62.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.36). The company had revenue of $58.82 million for the quarter, compared to the consensus estimate of $62.40 million. Rigel Pharmaceuticals had a return on equity of 47.99% and a net margin of 121.50%. As a group, equities research analysts forecast that Rigel Pharmaceuticals, Inc. will post 3.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on RIGL. Citigroup reiterated a “buy” rating and issued a $81.00 target price (up from $69.00) on shares of Rigel Pharmaceuticals in a report on Wednesday, May 13th. Wall Street Zen downgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Zacks Research downgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. HC Wainwright reiterated a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a report on Friday, May 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a report on Tuesday, April 21st. Three equities research 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. According to data from MarketBeat.com, Rigel Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $54.50.

Hedge Funds Weigh In On Rigel Pharmaceuticals

Several large investors have recently added to or reduced their stakes in RIGL. AQR Capital Management LLC acquired a new position in Rigel Pharmaceuticals in the 1st quarter valued at approximately $191,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Rigel Pharmaceuticals by 14.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,366 shares of the biotechnology company’s stock valued at $204,000 after acquiring an additional 1,464 shares in the last quarter. Legal & General Group Plc raised its holdings in Rigel Pharmaceuticals by 130.7% in the 2nd quarter. Legal & General Group Plc now owns 4,310 shares of the biotechnology company’s stock valued at $81,000 after acquiring an additional 2,442 shares in the last quarter. Rhumbline Advisers raised its holdings in Rigel Pharmaceuticals by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 27,065 shares of the biotechnology company’s stock valued at $507,000 after acquiring an additional 555 shares in the last quarter. Finally, American Century Companies Inc. acquired a new position in Rigel Pharmaceuticals in the 2nd quarter valued at approximately $317,000. Institutional investors and hedge funds own 66.23% of the company’s stock.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.

Rigel’s lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).