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 firm’s stock in a transaction on Tuesday, February 4th. The stock was 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 in the company, valued at $1,119,220. This represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rigel Pharmaceuticals Stock Down 10.0 %

Shares of Rigel Pharmaceuticals stock opened at $21.94 on Friday. The stock has a market capitalization of $386.47 million, a P/E ratio of 156.73 and a beta of 1.34. Rigel Pharmaceuticals, Inc. has a 12-month low of $7.48 and a 12-month high of $29.82. The company has a 50-day simple moving average of $19.85 and a 200 day simple moving average of $17.03.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its earnings results on Thursday, November 7th. The biotechnology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.69. The company 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 quarter in the previous year, the company posted ($0.30) earnings per share. On average, equities analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of Rigel Pharmaceuticals

Large investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. acquired a new position in Rigel Pharmaceuticals during the 4th quarter worth about $63,000. SG Americas Securities LLC lifted its position in shares of 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 purchasing an additional 2,827 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Rigel Pharmaceuticals during the third quarter valued at approximately $193,000. Empire Financial Management Company LLC acquired a new stake in shares of Rigel Pharmaceuticals in the third quarter valued at approximately $231,000. Finally, PDT Partners LLC bought a new position in Rigel Pharmaceuticals in the 3rd quarter worth approximately $322,000. Institutional investors own 66.23% of the company’s stock.

Analyst Ratings Changes

RIGL has been the subject of a number of research reports. B. Riley raised their price objective on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Citigroup lifted their price target on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. 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 note on Thursday, November 14th. Cantor Fitzgerald lifted their target price on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 22nd. Three research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.