Rigel Pharmaceuticals (NASDAQ:RIGL) Director Sells $145,440.00 in Stock

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Director Walter Moos sold 4,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $36.36, for a total value of $145,440.00. Following the transaction, the director owned 12,722 shares in the company, valued at $462,571.92. This trade represents a 23.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rigel Pharmaceuticals Stock Up 3.1%

RIGL stock opened at $35.71 on Friday. The firm has a market cap of $648.14 million, a price-to-earnings ratio of 5.79 and a beta of 1.11. Rigel Pharmaceuticals, Inc. has a 1-year low of $15.50 and a 1-year high of $52.24. The firm has a fifty day moving average price of $38.31 and a two-hundred day moving average price of $37.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.28 and a quick ratio of 2.14.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in shares of Rigel Pharmaceuticals during the 1st quarter valued at $191,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Rigel Pharmaceuticals by 14.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,366 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 1,464 shares in the last quarter. Aviva PLC grew its holdings in Rigel Pharmaceuticals by 16.0% during the second quarter. Aviva PLC now owns 23,789 shares of the biotechnology company’s stock worth $446,000 after acquiring an additional 3,285 shares during the period. Acadian Asset Management LLC grew its holdings in Rigel Pharmaceuticals by 10.3% during the second quarter. Acadian Asset Management LLC now owns 623,004 shares of the biotechnology company’s stock worth $11,664,000 after acquiring an additional 57,959 shares during the period. Finally, Geode Capital Management LLC raised its position in Rigel Pharmaceuticals by 1.1% in the second quarter. Geode Capital Management LLC now owns 415,607 shares of the biotechnology company’s stock worth $7,786,000 after acquiring an additional 4,439 shares in the last quarter. 66.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on RIGL. Citigroup restated a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, January 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research report on Thursday, January 22nd. Zacks Research upgraded Rigel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Wall Street Zen upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Finally, Jefferies Financial Group raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price target for the company from $23.00 to $42.00 in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Rigel Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $43.20.

Rigel Pharmaceuticals Company Profile

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).