Rigel Pharmaceuticals (NASDAQ:RIGL) Stock Rating Upgraded by StockNews.com

Rigel Pharmaceuticals (NASDAQ:RIGLGet Rating) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

RIGL has been the subject of a number of other research reports. Jefferies Financial Group lowered shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, June 8th. Citigroup raised their price target on shares of Rigel Pharmaceuticals to $1.50 in a report on Tuesday, August 9th. BMO Capital Markets lowered their price target on shares of Rigel Pharmaceuticals from $7.00 to $3.00 in a report on Thursday, June 9th. Piper Sandler raised their price target on shares of Rigel Pharmaceuticals from $1.00 to $2.00 and gave the company a “neutral” rating in a report on Tuesday, August 16th. Finally, B. Riley lowered their price target on shares of Rigel Pharmaceuticals from $4.00 to $1.25 and set a “neutral” rating for the company in a report on Thursday, June 9th. Five 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.com, the company currently has a consensus rating of “Hold” and an average price target of $3.96.

Rigel Pharmaceuticals Price Performance

Shares of Rigel Pharmaceuticals stock traded down $0.05 during midday trading on Thursday, reaching $1.16. The company had a trading volume of 3,677,462 shares, compared to its average volume of 3,877,067. The company has a current ratio of 2.19, a quick ratio of 2.08 and a debt-to-equity ratio of 4.39. The company has a market capitalization of $200.49 million, a price-to-earnings ratio of -2.37 and a beta of 1.54. The stock has a fifty day simple moving average of $1.39 and a 200 day simple moving average of $1.89. Rigel Pharmaceuticals has a 1-year low of $0.64 and a 1-year high of $3.91.

Institutional Trading of Rigel Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Northern Trust Corp boosted its position in shares of Rigel Pharmaceuticals by 1.3% during the fourth quarter. Northern Trust Corp now owns 1,779,455 shares of the biotechnology company’s stock worth $4,716,000 after purchasing an additional 22,388 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Rigel Pharmaceuticals by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,733,359 shares of the biotechnology company’s stock worth $4,593,000 after purchasing an additional 71,401 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Rigel Pharmaceuticals by 20.9% during the fourth quarter. Teacher Retirement System of Texas now owns 32,961 shares of the biotechnology company’s stock worth $87,000 after purchasing an additional 5,701 shares in the last quarter. Citigroup Inc. boosted its position in shares of Rigel Pharmaceuticals by 91.2% during the fourth quarter. Citigroup Inc. now owns 410,496 shares of the biotechnology company’s stock worth $1,088,000 after purchasing an additional 195,845 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Rigel Pharmaceuticals during the fourth quarter worth $29,000. Institutional investors and hedge funds own 80.94% of the company’s stock.

About Rigel Pharmaceuticals

(Get Rating)

Rigel Pharmaceuticals, Inc, a biotechnology company, discovers and develops small molecule drugs to treat hematologic disorders, cancer, and rare immune diseases. The company offers Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia.

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Analyst Recommendations for Rigel Pharmaceuticals (NASDAQ:RIGL)

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