Key Points
- Director sale: Rigel Pharmaceuticals director Kamil Ali-Jackson sold 2,500 shares on May 26 at an average price of $29.17, totaling about $72,925. After the sale, she still held 12,625 shares.
- Mixed stock backdrop: RIGL opened at $30.05, with a market cap of about $556 million, and has traded between a 52-week low of $18.14 and high of $52.24. Its share price is below the 200-day moving average of $35.31.
- Earnings and analyst outlook: Rigel recently missed Q1 earnings and revenue estimates, reporting $0.44 EPS versus $0.80 expected. Analysts currently rate the stock a consensus Hold with an average price target of $54.50.
Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report) Director Kamil Ali-Jackson sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $29.17, for a total transaction of $72,925.00. Following the completion of the sale, the director directly owned 12,625 shares in the company, valued at approximately $368,271.25. The trade was a 16.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Rigel Pharmaceuticals Stock Performance
NASDAQ RIGL opened at $30.05 on Friday. The stock has a market cap of $555.93 million, a P/E ratio of 1.61 and a beta of 1.21. The company's 50-day simple moving average is $28.80 and its 200 day simple moving average is $35.31. Rigel Pharmaceuticals, Inc. has a twelve month low of $18.14 and a twelve month high of $52.24. The company has a quick ratio of 2.48, a current ratio of 2.62 and a debt-to-equity ratio of 0.04.
Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its earnings results on Tuesday, May 5th. The biotechnology company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.36). The business had revenue of $58.82 million during the quarter, compared to the consensus estimate of $62.40 million. Rigel Pharmaceuticals had a net margin of 121.50% and a return on equity of 47.99%. As a group, research analysts forecast that Rigel Pharmaceuticals, Inc. will post 3.76 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Rigel Pharmaceuticals
Large investors have recently modified their holdings of the stock. AlphaQuest LLC lifted its position in shares of Rigel Pharmaceuticals by 234.8% during the third quarter. AlphaQuest LLC now owns 1,105 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 775 shares in the last quarter. IFP Advisors Inc acquired a new position in shares of Rigel Pharmaceuticals during the third quarter worth approximately $55,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Rigel Pharmaceuticals by 400.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,275 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 1,020 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Rigel Pharmaceuticals during the third quarter worth approximately $62,000. Finally, Wexford Capital LP acquired a new position in shares of Rigel Pharmaceuticals during the third quarter worth approximately $66,000. 66.23% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts recently weighed in on RIGL shares. Zacks Research cut shares of Rigel Pharmaceuticals from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 7th. Citigroup reissued a "buy" rating and issued a $81.00 target price (up from $69.00) on shares of Rigel Pharmaceuticals in a research note on Wednesday, May 13th. HC Wainwright reissued a "buy" rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research note on Friday, May 22nd. Weiss Ratings reissued a "hold (c+)" rating on shares of Rigel Pharmaceuticals in a research note on Tuesday, April 21st. Finally, Wall Street Zen lowered shares of Rigel Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $54.50.
Check Out Our Latest Analysis on RIGL
About Rigel Pharmaceuticals
(
Get Free Report)
Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.
Rigel's lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).
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