Rigel Pharmaceuticals (NASDAQ:RIGL) Price Target Raised to $23.00

Rigel Pharmaceuticals (NASDAQ:RIGL) had its target price upped by Piper Sandler from $15.00 to $23.00 in a research note issued to investors on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the biotechnology company’s stock.

RIGL has been the subject of a number of other reports. StockNews.com raised Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $15.00 target price on shares of Rigel Pharmaceuticals in a report on Friday, September 20th. HC Wainwright reiterated a “buy” rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Friday, October 25th. Finally, Citigroup raised their price objective on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rigel Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $31.30.

Rigel Pharmaceuticals Trading Down 12.2 %

RIGL opened at $24.10 on Thursday. 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 $424.40 million, a PE ratio of 172.16 and a beta of 0.96. The company has a 50 day moving average of $16.07 and a 200 day moving average of $12.35.

Institutional Trading of Rigel Pharmaceuticals

Large investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Rigel Pharmaceuticals in the first quarter valued at approximately $2,012,000. Acadian Asset Management LLC raised its position in shares of Rigel Pharmaceuticals by 18.2% during the 1st quarter. Acadian Asset Management LLC now owns 5,465,183 shares of the biotechnology company’s stock valued at $8,086,000 after buying an additional 843,419 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Rigel Pharmaceuticals during the 3rd quarter valued at $7,148,000. Vanguard Group Inc. lifted its holdings in shares of Rigel Pharmaceuticals by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company’s stock worth $13,864,000 after acquiring an additional 414,207 shares during the last quarter. Finally, CM Management LLC grew its position in Rigel Pharmaceuticals by 17.6% in the first quarter. CM Management LLC now owns 2,000,000 shares of the biotechnology company’s stock worth $2,960,000 after acquiring an additional 300,000 shares in the last quarter. 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.