ValuEngine Downgrades Rigel Pharmaceuticals (RIGL) to Sell
ValuEngine lowered shares of Rigel Pharmaceuticals (NASDAQ:RIGL) from a hold rating to a sell rating in a research report report published on Friday.
A number of other analysts have also recently weighed in on RIGL. Jefferies Group reissued a buy rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a research note on Tuesday, September 5th. Zacks Investment Research raised shares of Rigel Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, September 20th. BMO Capital Markets reissued a buy rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a research note on Monday, October 2nd. HC Wainwright reissued a buy rating and issued a $7.00 target price on shares of Rigel Pharmaceuticals in a research note on Monday, November 6th. Finally, Cantor Fitzgerald started coverage on shares of Rigel Pharmaceuticals in a research note on Thursday, December 14th. They issued an overweight rating and a $6.00 target price on the stock. Two analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $5.45.
Shares of Rigel Pharmaceuticals (NASDAQ:RIGL) opened at $3.41 on Friday. Rigel Pharmaceuticals has a 52 week low of $1.94 and a 52 week high of $4.47.
In other Rigel Pharmaceuticals news, CFO Ryan D. Maynard sold 100,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $3.90, for a total transaction of $390,000.00. Following the sale, the chief financial officer now directly owns 100,000 shares of the company’s stock, valued at $390,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.21% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. AXA bought a new stake in Rigel Pharmaceuticals during the second quarter worth about $122,000. Voya Investment Management LLC grew its stake in Rigel Pharmaceuticals by 30.4% during the second quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock worth $146,000 after buying an additional 12,500 shares during the last quarter. SG Americas Securities LLC grew its stake in Rigel Pharmaceuticals by 415.2% during the third quarter. SG Americas Securities LLC now owns 59,401 shares of the biotechnology company’s stock worth $151,000 after buying an additional 47,872 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Rigel Pharmaceuticals during the second quarter worth about $193,000. Finally, State of Wisconsin Investment Board bought a new stake in Rigel Pharmaceuticals during the second quarter worth about $232,000. 74.51% of the stock is currently owned by hedge funds and other institutional investors.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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