The stock of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) is a huge mover today! The stock increased 7.90% or $0.29 during the last trading session, hitting $3.96. About 1.69M shares traded hands. Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has risen 61.67% since February 29, 2016 and is uptrending. It has outperformed by 49.46% the S&P500.
The move comes after 8 months positive chart setup for the $385.07 million company. It was reported on Oct, 4 by Barchart.com. We have $6.45 PT which if reached, will make NASDAQ:RIGL worth $242.59 million more.
Analysts await Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) to report earnings on November, 1. They expect $-0.19 EPS, down 137.50% or $0.11 from last year’s $-0.08 per share. After $-0.15 actual EPS reported by Rigel Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts 26.67% negative EPS growth.
Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Ratings Coverage
Out of 4 analysts covering Rigel Pharmaceuticals (NASDAQ:RIGL), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Rigel Pharmaceuticals has been the topic of 7 analyst reports since August 8, 2015 according to StockzIntelligence Inc. The rating was initiated by H.C. Wainwright with “Buy” on Wednesday, July 13. The firm earned “Overweight” rating on Monday, June 13 by Piper Jaffray. BMO Capital Markets maintained Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) rating on Wednesday, August 31. BMO Capital Markets has “Outperform” rating and $6 price target. The stock of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) earned “Buy” rating by Jefferies on Monday, May 16. The stock has “Buy” rating given by H.C. Wainwright on Wednesday, August 31. The firm has “Overweight” rating given on Tuesday, August 30 by Piper Jaffray. Zacks upgraded Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) rating on Saturday, August 8. Zacks has “Hold” rating and $3.25 price target.
According to Zacks Investment Research, “Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Its goal is to file one new investigative new drug application in a significant indication each year. The Company’s pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer.”
Insitutional Activity: The institutional sentiment decreased to 1.32 in 2016 Q2. Its down 0.07, from 1.39 in 2016Q1. The ratio worsened, as 10 funds sold all Rigel Pharmaceuticals, Inc. shares owned while 31 reduced positions. 14 funds bought stakes while 40 increased positions. They now own 82.36 million shares or 1.95% more from 80.79 million shares in 2016Q1.
Bridgeway Capital Management Inc holds 0.01% or 190,000 shares in its portfolio. Cornerstone Mngmt Hldg Limited Liability Corp holds 0% or 73,700 shares in its portfolio. American Grp Inc Inc reported 53,611 shares or 0% of all its holdings. Senzar Asset Mngmt Lc last reported 1.44M shares in the company. Tfs Capital Lc reported 231,756 shares or 0.1% of all its holdings. Moreover, Grp Inc One Trading Limited Partnership has 0% invested in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 55,220 shares. Parametric Port Assocs Limited Co owns 129,067 shares or 0% of their US portfolio. Oppenheimer Inc accumulated 86,759 shares or 0.01% of the stock. Citadel Advisors Ltd Company holds 0% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 1.11M shares. Wellington Management Gru Limited Liability Partnership holds 0% or 5.11M shares in its portfolio. Balyasny Asset Ltd Liability Corp holds 0% or 19,304 shares in its portfolio. Price T Rowe Associate Md holds 0% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 210,360 shares. Fin Architects, a New Jersey-based fund reported 15,000 shares. Jacobs Levy Equity Management Incorporated, a New Jersey-based fund reported 659,522 shares. Numeric Ltd Llc has 0.02% invested in the company for 846,584 shares.
Insider Transactions: Since August 30, 2016, the stock had 0 insider purchases, and 1 sale for $21,214 net activity. 5,303 Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) shares with value of $21,214 were sold by PAYAN DONALD G.
More news for Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) were recently published by: Fool.com, which released: “Here’s Why Rigel Pharmaceuticals, Inc. is Skyrocketing Today” on August 30, 2016. Prnewswire.com‘s article titled: “Rigel Announces Second Quarter 2016 Financial Results and Provides Portfolio …” and published on August 02, 2016 is yet another important article.
RIGL Company Profile
Rigel Pharmaceuticals, Inc., incorporated on June 14, 1996, is a clinical-stage biotechnology company. The Firm is engaged in the discovery and development of targeted drugs in the therapeutic areas of immunology, oncology and immuno-oncology. The Company’s clinical programs include fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, which is in Phase III clinical trials for immune thrombocytopenic purpura (ITP); a Phase II clinical trial for autoimmune hemolytic anemia (AIHA), and a Phase II clinical trial for IgA nephropathy (IgAN). The Firm has approximately two oncology product candidates in Phase I development. The Firm is also engaged in conducting research in the disease areas of inflammation/immunology, and muscle wasting/muscle endurance, among others.
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