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 Rigel Pharmaceuticals 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 transaction, the director directly owned 10,125 shares of the company’s stock, valued at $354,375. This represents a 19.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $29.17, for a total transaction of $72,925.00.

Rigel Pharmaceuticals Trading Up 2.6%

RIGL traded up $0.94 during trading on Wednesday, reaching $36.55. 274,462 shares of the stock traded hands, compared to its average volume of 381,462. The company has a quick ratio of 2.48, a current ratio of 2.62 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $676.17 million, a PE ratio of 1.95 and a beta of 1.20. The stock’s 50-day moving average is $30.49 and its 200 day moving average is $33.68. Rigel Pharmaceuticals, Inc. has a 12 month low of $18.14 and a 12 month high of $52.24.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.36). The business had revenue of $58.82 million during the quarter, compared to the consensus estimate of $62.40 million. Rigel Pharmaceuticals had a return on equity of 47.99% and a net margin of 121.50%. Equities analysts anticipate that Rigel Pharmaceuticals, Inc. will post 3.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RIGL. State Street Corp boosted its holdings in Rigel Pharmaceuticals by 96.9% in the fourth quarter. State Street Corp now owns 1,091,223 shares of the biotechnology company’s stock worth $46,737,000 after acquiring an additional 536,905 shares in the last quarter. Armistice Capital LLC increased its holdings in shares of Rigel Pharmaceuticals by 15.5% during the fourth quarter. Armistice Capital LLC now owns 836,000 shares of the biotechnology company’s stock valued at $35,806,000 after acquiring an additional 112,000 shares in the last quarter. Marshall Wace LLP raised its position in shares of Rigel Pharmaceuticals by 2.0% during the fourth quarter. Marshall Wace LLP now owns 613,600 shares of the biotechnology company’s stock worth $26,280,000 after purchasing an additional 12,267 shares during the period. LSV Asset Management raised its position in shares of Rigel Pharmaceuticals by 390.8% during the fourth quarter. LSV Asset Management now owns 544,282 shares of the biotechnology company’s stock worth $23,312,000 after purchasing an additional 433,382 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Rigel Pharmaceuticals by 13.7% in the 4th quarter. Renaissance Technologies LLC now owns 539,009 shares of the biotechnology company’s stock worth $23,086,000 after purchasing an additional 64,800 shares in the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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).