Rigel Pharmaceuticals (RIGL) Downgraded to “Strong Sell” at BidaskClub
Several other brokerages also recently weighed in on RIGL. Cantor Fitzgerald reissued a buy rating and issued a $7.00 price target on shares of Rigel Pharmaceuticals in a report on Tuesday, May 7th. Zacks Investment Research raised Rigel Pharmaceuticals from a sell rating to a hold rating in a report on Friday, February 1st. Finally, HC Wainwright reissued a buy rating and issued a $8.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Rigel Pharmaceuticals presently has an average rating of Buy and an average price target of $6.60.
Shares of NASDAQ RIGL opened at $2.14 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.33 and a quick ratio of 5.29. The stock has a market capitalization of $342.74 million, a price-to-earnings ratio of -4.86 and a beta of 1.18. Rigel Pharmaceuticals has a fifty-two week low of $1.96 and a fifty-two week high of $3.98.
In other news, CFO Dean L. Schorno acquired 50,000 shares of Rigel Pharmaceuticals stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average cost of $2.13 per share, for a total transaction of $106,500.00. Following the completion of the purchase, the chief financial officer now directly owns 46,726 shares in the company, valued at approximately $99,526.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.96% of the company’s stock.
Several large investors have recently made changes to their positions in RIGL. HRT Financial LLC purchased a new position in shares of Rigel Pharmaceuticals in the fourth quarter worth about $28,000. Hsbc Holdings PLC purchased a new position in shares of Rigel Pharmaceuticals in the first quarter worth about $29,000. Jane Street Group LLC purchased a new position in shares of Rigel Pharmaceuticals in the first quarter worth about $34,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Rigel Pharmaceuticals in the first quarter worth about $45,000. Finally, SG Americas Securities LLC purchased a new position in shares of Rigel Pharmaceuticals in the first quarter worth about $55,000. Hedge funds and other institutional investors own 95.50% of the company’s stock.
Rigel Pharmaceuticals Company Profile
Rigel Pharmaceuticals, Inc, a biotechnology company, engages in the discovery and development of small molecule drugs for the treatment of immune and hematologic disorders, cancer, and rare diseases. The company's clinical programs include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; and Phase III clinical study for autoimmune hemolytic anemia.
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