Rigel Pharmaceuticals (NASDAQ:RIGL) Director Kamil Ali-Jackson Sells 2,500 Shares of Stock

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Director Kamil Ali-Jackson sold 2,500 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $35.00, for a total transaction of $87,500.00. Following the completion of the sale, the director owned 10,125 shares of the company’s stock, valued at $354,375. The trade was a 19.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 Performance

NASDAQ:RIGL opened at $36.55 on Thursday. Rigel Pharmaceuticals, Inc. has a 1 year low of $18.14 and a 1 year high of $52.24. The firm’s fifty day simple moving average is $30.62 and its 200 day simple moving average is $33.61. 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 firm has a market capitalization of $676.17 million, a PE ratio of 1.95 and a beta of 1.20.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its earnings results on Tuesday, May 5th. The biotechnology company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.36). Rigel Pharmaceuticals had a return on equity of 47.99% and a net margin of 121.50%.The firm had revenue of $58.82 million for the quarter, compared to analyst estimates of $62.40 million. On average, sell-side analysts anticipate that Rigel Pharmaceuticals, Inc. will post 3.51 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Rigel Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Rigel Pharmaceuticals in the 4th quarter worth approximately $2,235,000. Ruffer LLP acquired a new stake in shares of Rigel Pharmaceuticals during the 4th quarter worth approximately $1,598,000. Ritholtz Wealth Management increased its position in shares of Rigel Pharmaceuticals by 961.3% during the fourth quarter. Ritholtz Wealth Management now owns 80,593 shares of the biotechnology company’s stock valued at $3,452,000 after purchasing an additional 72,999 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Rigel Pharmaceuticals during the fourth quarter valued at approximately $2,364,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of Rigel Pharmaceuticals in the fourth quarter valued at $2,249,000. 66.23% of the stock is owned by institutional investors and hedge funds.

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).