Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Receives $45.67 Consensus PT from Analysts

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $45.6667.

A number of equities analysts recently weighed in on RIGL shares. Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Citigroup restated a “buy” rating on shares of Rigel Pharmaceuticals in a report on Wednesday, January 14th. Finally, Zacks Research upgraded Rigel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th.

Rigel Pharmaceuticals Stock Up 5.1%

Shares of RIGL opened at $27.04 on Friday. The stock has a 50 day moving average price of $31.94 and a 200 day moving average price of $35.65. Rigel Pharmaceuticals has a one year low of $15.50 and a one year high of $52.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.30 and a current ratio of 2.42. The stock has a market capitalization of $499.43 million, a price-to-earnings ratio of 1.43 and a beta of 1.10.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, March 3rd. The biotechnology company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.19). Rigel Pharmaceuticals had a net margin of 124.72% and a return on equity of 79.84%. The firm had revenue of $69.80 million during the quarter, compared to analysts’ expectations of $68.70 million. Equities research analysts forecast that Rigel Pharmaceuticals will post 0.22 earnings per share for the current fiscal year.

Insider Transactions at Rigel Pharmaceuticals

In other Rigel Pharmaceuticals news, Director Walter H. Moos sold 4,000 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $36.36, for a total value of $145,440.00. Following the completion of the sale, the director directly owned 12,722 shares in the company, valued at $462,571.92. This represents a 23.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RIGL. Hsbc Holdings PLC grew its holdings in shares of Rigel Pharmaceuticals by 17.8% in the fourth quarter. Hsbc Holdings PLC now owns 12,444 shares of the biotechnology company’s stock valued at $537,000 after purchasing an additional 1,882 shares during the period. Invesco Ltd. raised its stake in Rigel Pharmaceuticals by 24.1% during the fourth quarter. Invesco Ltd. now owns 34,921 shares of the biotechnology company’s stock worth $1,496,000 after purchasing an additional 6,790 shares during the period. VARCOV Co. acquired a new position in Rigel Pharmaceuticals in the 4th quarter valued at about $238,000. Verdad Advisers LP acquired a new position in Rigel Pharmaceuticals in the 4th quarter valued at about $372,000. Finally, Virtus Investment Advisers LLC purchased a new stake in shares of Rigel Pharmaceuticals in the 4th quarter valued at approximately $279,000. 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).