Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL – Get Rating) have been given a consensus recommendation of "Hold" by the nine research firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $3.96.
Several equities analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of Rigel Pharmaceuticals from $1.00 to $2.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 16th. StockNews.com cut shares of Rigel Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Tuesday, September 13th. Cantor Fitzgerald cut shares of Rigel Pharmaceuticals from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $6.00 to $1.00 in a research note on Wednesday, June 8th. HC Wainwright raised their target price on shares of Rigel Pharmaceuticals from $7.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, August 18th. Finally, B. Riley decreased their target price on shares of Rigel Pharmaceuticals from $4.00 to $1.25 and set a "neutral" rating for the company in a research note on Thursday, June 9th.
Get Rigel Pharmaceuticals alerts:Rigel Pharmaceuticals Stock Performance
Shares of RIGL stock opened at $1.21 on Thursday. The company has a debt-to-equity ratio of 4.39, a quick ratio of 2.08 and a current ratio of 2.19. The company has a market capitalization of $209.13 million, a P/E ratio of -2.47 and a beta of 1.54. The company's 50 day moving average price is $1.39 and its two-hundred day moving average price is $1.91. Rigel Pharmaceuticals has a 52 week low of $0.64 and a 52 week high of $3.91.
Institutional Investors Weigh In On Rigel Pharmaceuticals
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in Rigel Pharmaceuticals by 209.2% in the second quarter. Goldman Sachs Group Inc. now owns 1,937,924 shares of the biotechnology company's stock valued at $2,190,000 after purchasing an additional 1,311,254 shares in the last quarter. Woodline Partners LP raised its stake in Rigel Pharmaceuticals by 4.6% during the second quarter. Woodline Partners LP now owns 861,305 shares of the biotechnology company's stock worth $973,000 after acquiring an additional 37,641 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Rigel Pharmaceuticals by 102.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 168,302 shares of the biotechnology company's stock worth $190,000 after acquiring an additional 85,200 shares in the last quarter. State Street Corp raised its stake in Rigel Pharmaceuticals by 218.2% during the second quarter. State Street Corp now owns 23,945,568 shares of the biotechnology company's stock worth $27,058,000 after acquiring an additional 16,421,362 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Rigel Pharmaceuticals by 308.2% during the second quarter. Cubist Systematic Strategies LLC now owns 74,675 shares of the biotechnology company's stock worth $84,000 after acquiring an additional 56,380 shares in the last quarter. Institutional investors and hedge funds own 80.94% of the company's stock.About Rigel Pharmaceuticals
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Rigel Pharmaceuticals, Inc, a biotechnology company, discovers and develops small molecule drugs to treat hematologic disorders, cancer, and rare immune diseases. The company offers Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia.
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