Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) traded down 5.6% during trading on Monday . The stock traded as low as $4.20 and last traded at $4.25. 1,186,173 shares changed hands during trading, a decline of 6% from the average session volume of 1,261,631 shares. The stock had previously closed at $4.50.
Several equities research analysts recently commented on the company. Zacks Investment Research cut Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday. HC Wainwright set a $7.00 price target on Rigel Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, March 7th. BidaskClub raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $7.00 price target on shares of Rigel Pharmaceuticals in a report on Tuesday, March 6th. Finally, ValuEngine raised Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $5.71.
The stock has a market cap of $659.21, a price-to-earnings ratio of -6.98 and a beta of 1.29.
Several hedge funds and other institutional investors have recently bought and sold shares of RIGL. Wells Fargo & Company MN increased its holdings in shares of Rigel Pharmaceuticals by 70.6% in the second quarter. Wells Fargo & Company MN now owns 191,217 shares of the biotechnology company’s stock valued at $522,000 after buying an additional 79,114 shares in the last quarter. Northern Trust Corp raised its stake in Rigel Pharmaceuticals by 7.8% during the 2nd quarter. Northern Trust Corp now owns 1,467,524 shares of the biotechnology company’s stock valued at $4,006,000 after purchasing an additional 106,148 shares during the period. Vanguard Group Inc. raised its stake in Rigel Pharmaceuticals by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,039,790 shares of the biotechnology company’s stock valued at $16,489,000 after purchasing an additional 348,755 shares during the period. Voya Investment Management LLC raised its stake in Rigel Pharmaceuticals by 30.4% during the 2nd quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock valued at $146,000 after purchasing an additional 12,500 shares during the period. Finally, State Street Corp raised its stake in Rigel Pharmaceuticals by 4.3% during the 2nd quarter. State Street Corp now owns 2,188,997 shares of the biotechnology company’s stock valued at $5,974,000 after purchasing an additional 90,640 shares during the period. 92.82% of the stock is currently owned by institutional investors.
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Rigel Pharmaceuticals Company Profile
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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