Rigel Pharmaceuticals (NASDAQ:RIGL) Stock Rating Upgraded by StockNews.com

Rigel Pharmaceuticals (NASDAQ:RIGLGet Rating) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

A number of other equities research analysts also recently commented on the company. Piper Sandler increased their price objective on Rigel Pharmaceuticals from $1.00 to $2.00 and gave the company a “neutral” rating in a research report on Tuesday, August 16th. HC Wainwright increased their price objective on Rigel Pharmaceuticals from $7.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. Cantor Fitzgerald lowered Rigel Pharmaceuticals from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $6.00 to $1.00 in a report on Wednesday, June 8th. BMO Capital Markets reduced their target price on Rigel Pharmaceuticals from $7.00 to $3.00 in a report on Thursday, June 9th. Finally, Jefferies Financial Group lowered Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, June 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.96.

Rigel Pharmaceuticals Price Performance

Shares of NASDAQ:RIGL traded down $0.05 on Thursday, reaching $1.16. 3,677,462 shares of the company traded hands, compared to its average volume of 3,877,067. Rigel Pharmaceuticals has a fifty-two week low of $0.64 and a fifty-two week high of $3.91. The company’s 50 day moving average is $1.39 and its 200-day moving average is $1.89. The stock has a market capitalization of $200.49 million, a PE ratio of -2.37 and a beta of 1.54. The company has a debt-to-equity ratio of 4.39, a current ratio of 2.19 and a quick ratio of 2.08.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of hedge funds have recently modified their holdings of RIGL. Northern Trust Corp increased its stake in shares of Rigel Pharmaceuticals by 1.3% in the fourth quarter. Northern Trust Corp now owns 1,779,455 shares of the biotechnology company’s stock worth $4,716,000 after acquiring an additional 22,388 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Rigel Pharmaceuticals by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,733,359 shares of the biotechnology company’s stock worth $4,593,000 after acquiring an additional 71,401 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Rigel Pharmaceuticals by 20.9% in the fourth quarter. Teacher Retirement System of Texas now owns 32,961 shares of the biotechnology company’s stock worth $87,000 after acquiring an additional 5,701 shares during the last quarter. Citigroup Inc. increased its position in Rigel Pharmaceuticals by 91.2% during the fourth quarter. Citigroup Inc. now owns 410,496 shares of the biotechnology company’s stock worth $1,088,000 after buying an additional 195,845 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in Rigel Pharmaceuticals during the fourth quarter worth $29,000. 80.94% of the stock is owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Company Profile

(Get Rating)

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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Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

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