Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) EVP David A. Santos Sells 2,125 Shares

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) EVP David A. Santos sold 2,125 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $44,455.00. Following the completion of the sale, the executive vice president now owns 53,500 shares of the company’s stock, valued at approximately $1,119,220. This represents a 3.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Rigel Pharmaceuticals Trading Up 6.8 %

RIGL opened at $24.39 on Friday. Rigel Pharmaceuticals, Inc. has a 1-year low of $7.48 and a 1-year high of $29.82. The company’s 50 day moving average is $19.96 and its 200-day moving average is $16.95. The company has a market cap of $429.51 million, a P/E ratio of 174.23 and a beta of 1.34.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.69. The business had revenue of $55.31 million during the quarter, compared to analysts’ expectations of $40.69 million. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. During the same period last year, the company posted ($0.30) earnings per share. On average, equities analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC lifted its position in shares of Rigel Pharmaceuticals by 15.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 86,001 shares of the biotechnology company’s stock valued at $1,447,000 after purchasing an additional 11,499 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Rigel Pharmaceuticals by 10.3% during the fourth quarter. Bank of New York Mellon Corp now owns 50,195 shares of the biotechnology company’s stock valued at $844,000 after purchasing an additional 4,672 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Rigel Pharmaceuticals by 6.3% during the fourth quarter. Rhumbline Advisers now owns 25,143 shares of the biotechnology company’s stock valued at $423,000 after purchasing an additional 1,485 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Rigel Pharmaceuticals during the fourth quarter worth about $63,000. Finally, SG Americas Securities LLC increased its holdings in Rigel Pharmaceuticals by 42.8% during the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock worth $159,000 after buying an additional 2,827 shares during the last quarter. 66.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on RIGL. Citigroup increased their price target on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. B. Riley increased their price objective on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. StockNews.com raised shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. HC Wainwright reissued a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 22nd. Finally, Piper Sandler increased their price objective on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

About Rigel Pharmaceuticals

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.