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

Rigel Pharmaceuticals (NASDAQ:RIGL) had its price target raised by research analysts at Cantor Fitzgerald from $15.00 to $25.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 7.94% from the company’s current price.

RIGL has been the subject of several other research reports. Citigroup lifted their price objective on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. StockNews.com raised Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a report on Tuesday. B. Riley lifted their target price on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a “neutral” rating in a report on Friday. Finally, Piper Sandler lifted their target price on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Three equities research 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 MarketBeat.com, Rigel Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $36.20.

Rigel Pharmaceuticals Stock Performance

Shares of RIGL opened at $23.16 on Tuesday. The business has a 50-day moving average of $19.76 and a 200 day moving average of $14.12. Rigel Pharmaceuticals has a fifty-two week low of $7.48 and a fifty-two week high of $29.82. The firm has a market cap of $407.96 million, a P/E ratio of 165.43 and a beta of 1.22.

Institutional Trading of Rigel Pharmaceuticals

A number of large investors have recently modified their holdings of RIGL. Assenagon Asset Management S.A. bought a new stake in Rigel Pharmaceuticals in the 3rd quarter worth approximately $7,148,000. Vanguard Group Inc. lifted its position in Rigel Pharmaceuticals by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company’s stock worth $13,864,000 after buying an additional 414,207 shares during the last quarter. FMR LLC lifted its position in Rigel Pharmaceuticals by 119.4% in the 3rd quarter. FMR LLC now owns 48,105 shares of the biotechnology company’s stock worth $778,000 after buying an additional 26,184 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Rigel Pharmaceuticals by 29.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 98,006 shares of the biotechnology company’s stock worth $1,586,000 after buying an additional 22,443 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in Rigel Pharmaceuticals in the 3rd quarter worth approximately $322,000. Institutional investors own 66.23% of the company’s stock.

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.