Rigel Pharmaceuticals (NASDAQ:RIGL) Director Sells $87,500.00 in Stock

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Director Kamil Ali-Jackson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $35.00, for a total value of $87,500.00. Following the completion of the transaction, the director directly owned 10,125 shares in the company, valued at approximately $354,375. The trade was a 19.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 stock was sold at an average price of $29.17, for a total transaction of $72,925.00.

Rigel Pharmaceuticals Stock Up 4.6%

Shares of NASDAQ:RIGL opened at $38.69 on Friday. The company has a current ratio of 2.62, a quick ratio of 2.48 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $30.86 and a 200 day simple moving average of $33.56. The firm has a market cap of $715.76 million, a PE ratio of 2.07 and a beta of 1.20. Rigel Pharmaceuticals, Inc. has a 12-month low of $18.24 and a 12-month high of $52.24.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.36). The company had revenue of $58.82 million for the quarter, compared to the consensus estimate of $62.40 million. Rigel Pharmaceuticals had a net margin of 121.50% and a return on equity of 47.99%. On average, equities research analysts anticipate that Rigel Pharmaceuticals, Inc. will post 3.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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 business. IFP Advisors Inc acquired a new stake in Rigel Pharmaceuticals in the 3rd quarter valued at approximately $55,000. Northwestern Mutual Wealth Management Co. boosted its position in Rigel Pharmaceuticals by 400.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,275 shares of the biotechnology company’s stock worth $55,000 after acquiring 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 third quarter worth $62,000. Wexford Capital LP bought a new position in shares of Rigel Pharmaceuticals in the third quarter worth $66,000. Finally, CWM LLC increased its holdings in shares of Rigel Pharmaceuticals by 217.0% during the fourth quarter. CWM LLC now owns 1,791 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 1,226 shares during the period. 66.23% of the stock is owned by institutional investors.

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).