Rigel Pharmaceuticals (NASDAQ:RIGL) Given New $23.00 Price Target at Piper Sandler

Rigel Pharmaceuticals (NASDAQ:RIGL) had its price target upped by Piper Sandler from $15.00 to $23.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

Several other research analysts also recently commented on RIGL. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $15.00 target price on shares of Rigel Pharmaceuticals in a research note on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research note on Friday, October 25th. StockNews.com upgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. Finally, Citigroup boosted their price target on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.30.

Rigel Pharmaceuticals Price Performance

Shares of Rigel Pharmaceuticals stock opened at $24.10 on Thursday. Rigel Pharmaceuticals has a one year low of $7.48 and a one year high of $29.82. The business’s 50 day simple moving average is $16.07 and its two-hundred day simple moving average is $12.35. The stock has a market capitalization of $424.40 million, a P/E ratio of 172.16 and a beta of 0.96.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of institutional investors have recently bought and sold shares of RIGL. Ground Swell Capital LLC bought a new stake in Rigel Pharmaceuticals during the 2nd quarter valued at approximately $141,000. PDT Partners LLC bought a new stake in shares of Rigel Pharmaceuticals during the third quarter valued at approximately $322,000. BNP Paribas Financial Markets boosted its position in shares of Rigel Pharmaceuticals by 1,199.2% during the third quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock valued at $340,000 after purchasing an additional 19,391 shares in the last quarter. Barclays PLC grew its stake in Rigel Pharmaceuticals by 158.6% in the third quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock worth $442,000 after purchasing an additional 16,772 shares during the period. Finally, Bayesian Capital Management LP raised its holdings in Rigel Pharmaceuticals by 167.8% in the first quarter. Bayesian Capital Management LP now owns 30,480 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 19,100 shares in the last quarter. 66.23% of the stock is owned by institutional investors.

About Rigel Pharmaceuticals

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.