Rigel Pharmaceuticals - RIGL Stock Forecast, Price & News

Rigel Pharmaceuticals, Inc., a biotechnology company, discovers and develops small molecule drugs to treat hematologic disorders, cancer, and rare immune diseases. The company offers Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia. It also develops Fostamatinib that is in phase III clinical trial for the treatment of warm autoimmune hemolytic anemia; phase III clinical trial for the treatment of hospitalized COVID-19 patients; and phase III clinical trial for the treatment of COVID-19. In addition, the company is developing R289, an oral interleukin receptor associated kinase 1/4 inhibitor, which is in phase I clinical trial for autoimmune, inflammatory, and hematology-oncology diseases; and R552, a receptor-interacting serine/threonine-protein kinase 1 inhibitor that has completed phase I clinical trial for autoimmune and inflammatory diseases. It has research and license agreements with AstraZeneca AB for the development and commercialization of R256, an inhaled JAK inhibitor; BerGenBio AS for the development and commercialization of AXL inhibitors in oncology; and Daiichi Sankyo to develop murine double minute 2 inhibitors for solid and hematological malignancies, as well as license and supply agreement with Kissei Pharmaceutical Co., Ltd. to develop and commercialize Fostamatinib. The company also has a license agreement and strategic collaboration with Eli Lilly and Company to co-develop and commercialize R552 for various indications, including autoimmune and inflammatory diseases, as well as other non-central nervous system (non-CNS) disease development candidates. Rigel Pharmaceuticals, Inc. was incorporated in 1996 and is headquartered in South San Francisco, California.

Analysts Set New Price Targets

A number of brokerages have issued reports on RIGL. Jefferies Financial Group downgraded shares of Rigel Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Wednesday, June 8th. Piper Sandler downgraded shares of Rigel Pharmaceuticals from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $7.00 to $1.00 in a research note on Wednesday, June 8th. B. Riley reduced their price target on shares of Rigel Pharmaceuticals from $4.00 to $1.25 and set a "neutral" rating on the stock in a research note on Thursday, June 9th. HC Wainwright reduced their price target on shares of Rigel Pharmaceuticals from $11.00 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, June 8th. Finally, Cantor Fitzgerald downgraded shares of Rigel Pharmaceuticals from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $6.00 to $1.00 in a research note on Wednesday, June 8th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Rigel Pharmaceuticals presently has an average rating of "Hold" and an average target price of $2.46.

Rigel Pharmaceuticals Price Performance

NASDAQ:RIGL remained flat at $1.56 during mid-day trading on Tuesday. 2,568,170 shares of the company traded hands, compared to its average volume of 3,743,337. The stock's fifty day moving average is $1.21 and its 200 day moving average is $2.11. The company has a debt-to-equity ratio of 4.39, a current ratio of 2.19 and a quick ratio of 2.08. Rigel Pharmaceuticals has a twelve month low of $0.64 and a twelve month high of $4.24.

Insider Buying and Selling

In other Rigel Pharmaceuticals news, CEO Raul R. Rodriguez bought 1,000,000 shares of the business's stock in a transaction that occurred on Thursday, June 9th. The shares were acquired at an average cost of $0.69 per share, for a total transaction of $690,000.00. Following the transaction, the chief executive officer now directly owns 1,391,776 shares in the company, valued at $960,325.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.43% of the stock is owned by corporate insiders.