HC Wainwright Analysts Give Rigel Pharmaceuticals (RIGL) a $7.00 Price Target
HC Wainwright set a $7.00 price target on Rigel Pharmaceuticals (NASDAQ:RIGL) in a research report report published on Monday morning. The firm currently has a buy rating on the biotechnology company’s stock.
RIGL has been the subject of several other reports. Jefferies Group restated a buy rating and set a $5.00 target price on shares of Rigel Pharmaceuticals in a research note on Tuesday, September 5th. Zacks Investment Research upgraded Rigel Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, October 4th. ValuEngine upgraded Rigel Pharmaceuticals from a strong sell rating to a sell rating in a research note on Monday, October 2nd. Finally, BMO Capital Markets reiterated a buy rating and issued a $5.00 price target on shares of Rigel Pharmaceuticals in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Rigel Pharmaceuticals currently has a consensus rating of Hold and an average price target of $5.31.
Shares of Rigel Pharmaceuticals (NASDAQ:RIGL) opened at $3.72 on Monday. Rigel Pharmaceuticals has a 52 week low of $1.94 and a 52 week high of $4.47.
In related news, CFO Ryan D. Maynard sold 100,000 shares of Rigel Pharmaceuticals stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $3.90, for a total value of $390,000.00. Following the completion of the transaction, the chief financial officer now directly owns 100,000 shares in the company, valued at $390,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.21% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Rigel Pharmaceuticals by 6.1% in the second quarter. Vanguard Group Inc. now owns 6,039,790 shares of the biotechnology company’s stock worth $16,489,000 after purchasing an additional 348,755 shares in the last quarter. State Street Corp grew its stake in Rigel Pharmaceuticals by 4.3% in the second quarter. State Street Corp now owns 2,188,997 shares of the biotechnology company’s stock worth $5,974,000 after purchasing an additional 90,640 shares in the last quarter. Marshall Wace North America L.P. grew its stake in Rigel Pharmaceuticals by 0.5% in the second quarter. Marshall Wace North America L.P. now owns 1,988,193 shares of the biotechnology company’s stock worth $5,965,000 after purchasing an additional 9,867 shares in the last quarter. Northern Trust Corp grew its stake in Rigel Pharmaceuticals by 7.8% in the second quarter. Northern Trust Corp now owns 1,467,524 shares of the biotechnology company’s stock worth $4,006,000 after purchasing an additional 106,148 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Rigel Pharmaceuticals by 0.8% in the second quarter. JPMorgan Chase & Co. now owns 1,461,550 shares of the biotechnology company’s stock worth $3,990,000 after purchasing an additional 11,836 shares in the last quarter. Institutional investors and hedge funds own 74.51% of the company’s stock.
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About Rigel Pharmaceuticals
Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.
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