Rigel Pharmaceuticals (NASDAQ:RIGL) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Rigel Pharmaceuticals (NASDAQ:RIGL) had its price target upped by equities researchers at Cantor Fitzgerald from $15.00 to $25.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 28.01% from the company’s previous close.

RIGL has been the topic of a number of other research reports. StockNews.com raised shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. HC Wainwright restated a “buy” rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Tuesday. Piper Sandler upped their price objective on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. B. Riley boosted their target price on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, 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 report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rigel Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Rigel Pharmaceuticals Trading Down 5.0 %

Shares of RIGL opened at $19.53 on Tuesday. Rigel Pharmaceuticals has a 12-month low of $7.48 and a 12-month high of $29.82. The company has a market cap of $344.02 million, a PE ratio of 139.50 and a beta of 1.22. The stock has a 50-day moving average price of $19.90 and a 200-day moving average price of $14.24.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Ground Swell Capital LLC purchased a new position in Rigel Pharmaceuticals in the 2nd quarter worth approximately $141,000. Franklin Resources Inc. bought a new position in shares of Rigel Pharmaceuticals in the third quarter worth approximately $193,000. Empire Financial Management Company LLC purchased a new position in shares of Rigel Pharmaceuticals in the third quarter worth $231,000. PDT Partners LLC bought a new stake in Rigel Pharmaceuticals during the 3rd quarter valued at $322,000. Finally, BNP Paribas Financial Markets boosted its position in Rigel Pharmaceuticals by 1,199.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock valued at $340,000 after buying an additional 19,391 shares during the period. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

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.