Kamil Ali-Jackson Sells 2,500 Shares of Rigel Pharmaceuticals (NASDAQ:RIGL) Stock

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Director Kamil Ali-Jackson sold 2,500 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $35.00, for a total transaction of $87,500.00. Following the sale, the director owned 10,125 shares of the company’s stock, valued at approximately $354,375. This represents a 19.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $29.17, for a total value of $72,925.00.

Rigel Pharmaceuticals Trading Up 1.2%

RIGL opened at $36.99 on Friday. Rigel Pharmaceuticals, Inc. has a one year low of $18.20 and a one year high of $52.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.62 and a quick ratio of 2.48. The business has a 50 day simple moving average of $30.73 and a two-hundred day simple moving average of $33.52. The firm has a market capitalization of $684.32 million, a price-to-earnings ratio of 1.98 and a beta of 1.20.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data 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). Rigel Pharmaceuticals had a return on equity of 47.99% and a net margin of 121.50%.The business had revenue of $58.82 million during the quarter, compared to the consensus estimate of $62.40 million. Analysts predict that Rigel Pharmaceuticals, Inc. will post 3.51 EPS for the current year.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in RIGL. IFP Advisors Inc purchased a new position in Rigel Pharmaceuticals during the third quarter valued at $55,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Rigel Pharmaceuticals by 400.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,275 shares of the biotechnology company’s stock worth $55,000 after buying an additional 1,020 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Rigel Pharmaceuticals in the 3rd quarter worth about $62,000. Wexford Capital LP bought a new position in shares of Rigel Pharmaceuticals in the 3rd quarter worth about $66,000. Finally, CWM LLC lifted its position in Rigel Pharmaceuticals by 217.0% during the 4th quarter. CWM LLC now owns 1,791 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 1,226 shares during the period. Institutional investors own 66.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on RIGL shares. HC Wainwright reiterated a “buy” rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a report on Tuesday, June 2nd. Zacks Research cut shares of Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Citigroup reiterated a “buy” rating and set a $81.00 price target (up from $69.00) on shares of Rigel Pharmaceuticals in a research report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research note on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $54.50.

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).