Rigel Pharmaceuticals (NASDAQ:RIGL) Given New $25.00 Price Target at Cantor Fitzgerald

Rigel Pharmaceuticals (NASDAQ:RIGL) had its price objective boosted by stock analysts at Cantor Fitzgerald from $15.00 to $25.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 7.94% from the stock’s previous close.

RIGL has been the topic of several other reports. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a research note on Tuesday. Citigroup upped their price target on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. StockNews.com raised Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 18th. B. Riley upped their price target on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Piper Sandler boosted their target price on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rigel Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

Rigel Pharmaceuticals Price Performance

Shares of Rigel Pharmaceuticals stock opened at $23.16 on Tuesday. The business’s 50 day simple moving average is $19.76 and its two-hundred day simple moving average is $14.12. The stock has a market capitalization of $407.96 million, a P/E ratio of 165.43 and a beta of 1.22. Rigel Pharmaceuticals has a one year low of $7.48 and a one year high of $29.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RIGL. Vanguard Group Inc. lifted its holdings in shares of Rigel Pharmaceuticals by 4.6% during the first quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company’s stock valued at $13,864,000 after purchasing an additional 414,207 shares in the last quarter. Ground Swell Capital LLC bought a new position in shares of Rigel Pharmaceuticals during the second quarter valued at $141,000. Assenagon Asset Management S.A. bought a new position in shares of Rigel Pharmaceuticals during the third quarter valued at $7,148,000. Los Angeles Capital Management LLC lifted its holdings in shares of Rigel Pharmaceuticals by 34.5% during the third quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company’s stock valued at $1,205,000 after purchasing an additional 19,094 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Rigel Pharmaceuticals by 29.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 98,006 shares of the biotechnology company’s stock valued at $1,586,000 after purchasing an additional 22,443 shares in the last quarter. 66.23% of the stock is owned by institutional investors.

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.