Key Points
- Director Kamil Ali-Jackson sold 2,500 Rigel Pharmaceuticals shares on June 22 at an average price of $35.00, totaling $87,500. After the sale, Ali-Jackson still held 10,125 shares, and the transaction was reported as being related to tax withholding on vested equity awards.
- Rigel’s recent earnings missed expectations, with quarterly EPS of $0.44 versus the $0.80 consensus and revenue of $58.82 million versus estimates of $62.40 million. Analysts still expect the company to post 3.51 EPS for the current fiscal year.
- Wall Street sentiment is mixed but cautious: the stock has an average analyst rating of “Hold” with a consensus price target of $54.50. Recent calls ranged from a Zacks downgrade to “strong sell” to buy ratings from Citigroup and HC Wainwright.
Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report) Director Kamil Ali-Jackson sold 2,500 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $35.00, for a total transaction of $87,500.00. Following the completion of the transaction, the director owned 10,125 shares of the company's stock, valued at approximately $354,375. This represents a 19.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Kamil Ali-Jackson also recently made the following trade(s):
- On Tuesday, May 26th, Kamil Ali-Jackson sold 2,500 shares of Rigel Pharmaceuticals stock. The stock was sold at an average price of $29.17, for a total transaction of $72,925.00.
Rigel Pharmaceuticals Price Performance
Shares of Rigel Pharmaceuticals stock opened at $36.55 on Thursday. The firm has a market cap of $676.17 million, a P/E ratio of 1.95 and a beta of 1.20. The firm's 50-day simple moving average is $30.62 and its 200-day simple moving average is $33.61. Rigel Pharmaceuticals, Inc. has a twelve month low of $18.14 and a twelve month high of $52.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.48 and a current ratio of 2.62.
Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.36). The business had revenue of $58.82 million during the quarter, compared to analyst estimates of $62.40 million. Rigel Pharmaceuticals had a return on equity of 47.99% and a net margin of 121.50%. As a group, research analysts expect that Rigel Pharmaceuticals, Inc. will post 3.51 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on RIGL shares. Zacks Research cut Rigel Pharmaceuticals from a "hold" rating to a "strong sell" rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Rigel Pharmaceuticals in a research note on Tuesday, April 21st. Citigroup reiterated a "buy" rating and issued a $81.00 price target (up from $69.00) on shares of Rigel Pharmaceuticals in a research report on Wednesday, May 13th. Wall Street Zen lowered Rigel Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Finally, HC Wainwright reiterated a "buy" rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research note on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $54.50.
Check Out Our Latest Report on Rigel Pharmaceuticals
Institutional Trading of Rigel Pharmaceuticals
Several large investors have recently added to or reduced their stakes in RIGL. IFP Advisors Inc increased its holdings in shares of Rigel Pharmaceuticals by 21.8% during the fourth quarter. IFP Advisors Inc now owns 2,264 shares of the biotechnology company's stock worth $97,000 after buying an additional 405 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Rigel Pharmaceuticals by 1.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 28,803 shares of the biotechnology company's stock worth $779,000 after acquiring an additional 546 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Rigel Pharmaceuticals by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 27,065 shares of the biotechnology company's stock worth $507,000 after acquiring an additional 555 shares in the last quarter. Range Financial Group LLC boosted its holdings in shares of Rigel Pharmaceuticals by 1.2% in the 4th quarter. Range Financial Group LLC now owns 45,938 shares of the biotechnology company's stock worth $1,968,000 after acquiring an additional 561 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Rigel Pharmaceuticals by 4.0% during the 4th quarter. Deutsche Bank AG now owns 14,655 shares of the biotechnology company's stock worth $628,000 after acquiring an additional 570 shares during the last quarter. 66.23% of the stock is owned by institutional investors.
Rigel Pharmaceuticals Company Profile
(
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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