Rigel Pharmaceuticals (NASDAQ:RIGL) Price Target Raised to $23.00 at Piper Sandler

Rigel Pharmaceuticals (NASDAQ:RIGL) had its price target raised by Piper Sandler from $15.00 to $23.00 in a report published on Thursday,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $15.00 target price on shares of Rigel Pharmaceuticals in a research report on Friday, September 20th. Citigroup boosted 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. HC Wainwright reaffirmed a “buy” rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a report on Friday, October 25th. Finally, StockNews.com raised shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Rigel Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $31.30.

Rigel Pharmaceuticals Price Performance

NASDAQ RIGL traded down $1.04 during mid-day trading on Thursday, reaching $26.42. 73,319 shares of the stock were exchanged, compared to its average volume of 161,172. Rigel Pharmaceuticals has a one year low of $7.48 and a one year high of $29.82. The stock has a 50 day simple moving average of $15.85 and a 200-day simple moving average of $12.24. The stock has a market cap of $465.26 million, a P/E ratio of 196.16 and a beta of 0.96.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in RIGL. Los Angeles Capital Management LLC lifted its holdings in Rigel Pharmaceuticals by 34.5% during the third quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company’s stock valued at $1,205,000 after purchasing an additional 19,094 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Rigel Pharmaceuticals in the third quarter worth $7,148,000. BNP Paribas Financial Markets lifted its holdings in shares of Rigel Pharmaceuticals by 1,199.2% in the third quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock worth $340,000 after buying an additional 19,391 shares in the last quarter. PDT Partners LLC purchased a new position in shares of Rigel Pharmaceuticals in the third quarter worth $322,000. Finally, Stonepine Capital Management LLC lifted its holdings in shares of Rigel Pharmaceuticals by 1.3% in the third quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company’s stock worth $5,001,000 after buying an additional 4,100 shares in the last quarter. Hedge funds and other institutional investors own 66.23% of the company’s stock.

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.