The stock of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) is a huge mover today! About 714,016 shares traded hands. Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has risen 19.38% since April 13, 2016 and is uptrending. It has outperformed by 15.45% the S&P500.
The move comes after 6 months negative chart setup for the $274.25M company. It was reported on Nov, 15 by Barchart.com. We have $2.48 PT which if reached, will make NASDAQ:RIGL worth $38.40M less.
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 stock of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has “Buy” rating given on Monday, May 16 by Jefferies. Zacks upgraded Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) rating on Saturday, August 8. Zacks has “Hold” rating and $3.25 price target. Piper Jaffray maintained the stock with “Overweight” rating in Tuesday, August 30 report. H.C. Wainwright initiated the stock with “Buy” rating in Wednesday, July 13 report. The stock of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) earned “Outperform” rating by BMO Capital Markets on Wednesday, August 31. The stock of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) earned “Buy” rating by H.C. Wainwright on Wednesday, August 31. The company was initiated on Monday, June 13 by Piper Jaffray.
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 Q2 2016. Its down 0.07, from 1.39 in 2016Q1. The ratio is negative, 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.
Millennium Management Limited Liability Com has 0.01% invested in the company for 2.36 million shares. Cornerstone Cap Mgmt Limited Co holds 0% or 73,700 shares in its portfolio. Blackrock Inv Lc last reported 346,722 shares in the company. Loring Wolcott Coolidge Fiduciary Llp Ma reported 27 shares or 0% of all its holdings. California Pub Employees Retirement System has 881,500 shares for 0% of their US portfolio. Connor Clark And Lunn Investment Mgmt Limited accumulated 429,544 shares or 0.01% of the stock. Renaissance Technology Lc holds 0% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 792,600 shares. Franklin Street Advisors Nc last reported 0.01% of its portfolio in the stock. Dimensional Fund Advsr Limited Partnership has invested 0% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL). The Massachusetts-based Putnam Investments Limited Liability Company has invested 0% in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL). Wells Fargo & Mn accumulated 0% or 24,295 shares. The Massachusetts-based Panagora Asset Mngmt has invested 0% in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL). Manufacturers Life The has 72,243 shares for 0% of their US portfolio. Citigroup holds 0% or 20,357 shares in its portfolio. Northern Trust reported 1.02 million shares or 0% of all its holdings.
Insider Transactions: Since August 30, 2016, the stock had 0 insider purchases, and 1 sale for $21,214 net activity. PAYAN DONALD G sold 5,303 shares worth $21,214.
More recent Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) news were published by: Fool.com which released: “Why Rigel Pharmaceuticals, Inc. Got Hammered Today” on October 20, 2016. Also Fool.com published the news titled: “Here’s Why Rigel Pharmaceuticals, Inc. is Skyrocketing Today” on August 30, 2016. Prnewswire.com‘s news article titled: “Rigel Restructures to Focus on Fostamatinib Commercialization” with publication date: September 15, 2016 was also an interesting one.
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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