Cantor Fitzgerald Reaffirms “Neutral” Rating for Rigel Pharmaceuticals (NASDAQ:RIGL)

Cantor Fitzgerald reaffirmed their neutral rating on shares of Rigel Pharmaceuticals (NASDAQ:RIGL) in a research report report published on Friday, Benzinga reports. They currently have a $15.00 price objective on the biotechnology company’s stock.

A number of other equities research analysts also recently issued reports on RIGL. HC Wainwright reissued a buy rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Tuesday, September 3rd. StockNews.com raised shares of Rigel Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, July 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $31.13.

Rigel Pharmaceuticals Trading Up 0.5 %

NASDAQ:RIGL opened at $13.76 on Friday. Rigel Pharmaceuticals has a 12 month low of $7.12 and a 12 month high of $17.30. The company has a 50 day simple moving average of $11.89 and a two-hundred day simple moving average of $11.28. The company has a market cap of $242.04 million, a PE ratio of -11.47 and a beta of 0.93.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.31. The business had revenue of $36.84 million for the quarter, compared to the consensus estimate of $32.38 million. During the same period in the previous year, the firm earned ($0.40) EPS. Research analysts forecast that Rigel Pharmaceuticals will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Rigel Pharmaceuticals by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company’s stock valued at $13,864,000 after buying an additional 414,207 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Rigel Pharmaceuticals by 18.2% in the 1st quarter. Acadian Asset Management LLC now owns 5,465,183 shares of the biotechnology company’s stock worth $8,086,000 after purchasing an additional 843,419 shares in the last quarter. CM Management LLC lifted its stake in Rigel Pharmaceuticals by 17.6% in the 1st quarter. CM Management LLC now owns 2,000,000 shares of the biotechnology company’s stock worth $2,960,000 after purchasing an additional 300,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Rigel Pharmaceuticals in the 1st quarter worth $2,012,000. Finally, Los Angeles Capital Management LLC lifted its stake in Rigel Pharmaceuticals by 49.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 603,123 shares of the biotechnology company’s stock worth $893,000 after purchasing an additional 198,712 shares in the last quarter. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing therapies that enhance the lives of patients with hematologic disorders and cancer. The company’s commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; Rezlidhia, a non-intensive monotherapy for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer, as well as for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.