Rigel Pharmaceuticals (NASDAQ:RIGL) Price Target Raised to $25.00

Rigel Pharmaceuticals (NASDAQ:RIGL) had its price target raised by Cantor Fitzgerald from $15.00 to $25.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the biotechnology company’s stock.

A number of other analysts have also commented on RIGL. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research note on Tuesday. Citigroup raised their target price on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. B. Riley upped their target price on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Piper Sandler increased their price target on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, StockNews.com raised Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 18th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Rigel Pharmaceuticals Price Performance

Shares of Rigel Pharmaceuticals stock opened at $19.01 on Tuesday. The business has a 50 day moving average price of $19.96 and a 200 day moving average price of $14.27. The company has a market capitalization of $334.86 million, a P/E ratio of 135.79 and a beta of 1.22. Rigel Pharmaceuticals has a 1 year low of $7.48 and a 1 year high of $29.82.

Hedge Funds Weigh In On Rigel Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of RIGL. PDT Partners LLC purchased a new stake in shares of Rigel Pharmaceuticals during the third quarter valued at approximately $322,000. Los Angeles Capital Management LLC increased its stake in Rigel Pharmaceuticals by 34.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company’s stock worth $1,205,000 after buying an additional 19,094 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Rigel Pharmaceuticals by 29.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 98,006 shares of the biotechnology company’s stock worth $1,586,000 after buying an additional 22,443 shares during the period. Assenagon Asset Management S.A. acquired a new position in Rigel Pharmaceuticals in the 3rd quarter worth $7,148,000. Finally, Stonepine Capital Management LLC boosted its position in Rigel Pharmaceuticals by 1.3% in the 3rd quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company’s stock valued at $5,001,000 after buying an additional 4,100 shares during the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

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.