Rigel Pharmaceuticals (NASDAQ:RIGL) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rigel Pharmaceuticals (NASDAQ:RIGL) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $57.00 price target on the biotechnology company’s stock.

A number of other equities analysts have also recently weighed in on RIGL. B. Riley lifted their price target on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Citigroup lifted their target price on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Cantor Fitzgerald boosted their target price on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. StockNews.com raised Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. Finally, Piper Sandler boosted their price objective on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

Rigel Pharmaceuticals Price Performance

Rigel Pharmaceuticals stock opened at $16.69 on Tuesday. The firm has a market capitalization of $293.99 million, a price-to-earnings ratio of 119.22 and a beta of 1.31. The company’s 50 day simple moving average is $20.94 and its 200 day simple moving average is $15.53. Rigel Pharmaceuticals has a fifty-two week low of $7.48 and a fifty-two week high of $29.82.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. acquired a new stake in Rigel Pharmaceuticals in the 3rd quarter valued at $193,000. Empire Financial Management Company LLC bought a new position in shares of Rigel Pharmaceuticals in the 3rd quarter valued at about $231,000. PDT Partners LLC bought a new position in shares of Rigel Pharmaceuticals in the 3rd quarter valued at about $322,000. BNP Paribas Financial Markets increased its position in shares of Rigel Pharmaceuticals by 1,199.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock worth $340,000 after purchasing an additional 19,391 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Rigel Pharmaceuticals by 45.0% during 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 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.