Cantor Fitzgerald Issues Positive Forecast for Rigel Pharmaceuticals (NASDAQ:RIGL) Stock Price

Rigel Pharmaceuticals (NASDAQ:RIGL) had its target price lifted by Cantor Fitzgerald from $15.00 to $25.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

Several other equities research analysts have also issued reports on the stock. Citigroup increased their target price on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research note on Tuesday. B. Riley lifted their target price on shares of 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 upped their target price on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, StockNews.com raised Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

Rigel Pharmaceuticals Stock Performance

NASDAQ RIGL opened at $20.56 on Tuesday. The business’s fifty day moving average is $19.84 and its 200 day moving average is $14.20. Rigel Pharmaceuticals has a fifty-two week low of $7.48 and a fifty-two week high of $29.82. The company has a market capitalization of $362.16 million, a PE ratio of 146.86 and a beta of 1.22.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. purchased a new stake in shares of Rigel Pharmaceuticals in the third quarter worth about $193,000. Barclays PLC increased its stake in Rigel Pharmaceuticals by 158.6% in the 3rd quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock worth $442,000 after acquiring an additional 16,772 shares during the last quarter. Empire Financial Management Company LLC purchased a new stake in shares of Rigel Pharmaceuticals during the 3rd quarter worth approximately $231,000. Geode Capital Management LLC raised its holdings in shares of Rigel Pharmaceuticals by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 399,663 shares of the biotechnology company’s stock worth $6,468,000 after acquiring an additional 8,881 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Rigel Pharmaceuticals by 0.7% during the 3rd quarter. State Street Corp now owns 367,795 shares of the biotechnology company’s stock valued at $5,951,000 after acquiring an additional 2,552 shares during the last quarter. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Company Profile

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.