Rigel Pharmaceuticals, Inc. (RIGL) Insider Nelson Cabatuan Sells 10,000 Shares

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) insider Nelson Cabatuan sold 10,000 shares of the stock in a transaction dated Friday, October 12th. The shares were sold at an average price of $3.12, for a total value of $31,200.00. Following the sale, the insider now owns 58 shares of the company’s stock, valued at $180.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NASDAQ RIGL opened at $3.19 on Wednesday. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $2.56 and a fifty-two week high of $4.71. The company has a market capitalization of $534.28 million, a price-to-earnings ratio of -5.15 and a beta of 1.07.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). The business had revenue of $1.79 million during the quarter, compared to analysts’ expectations of $0.30 million. As a group, sell-side analysts forecast that Rigel Pharmaceuticals, Inc. will post -0.65 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RIGL. Northern Trust Corp lifted its holdings in Rigel Pharmaceuticals by 2.1% in the 1st quarter. Northern Trust Corp now owns 1,776,443 shares of the biotechnology company’s stock worth $6,289,000 after buying an additional 36,844 shares during the period. JPMorgan Chase & Co. lifted its holdings in Rigel Pharmaceuticals by 47.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,021,618 shares of the biotechnology company’s stock worth $7,157,000 after buying an additional 652,856 shares during the period. New York State Common Retirement Fund lifted its holdings in Rigel Pharmaceuticals by 27.4% in the 1st quarter. New York State Common Retirement Fund now owns 147,000 shares of the biotechnology company’s stock worth $520,000 after buying an additional 31,600 shares during the period. Allianz Asset Management GmbH purchased a new stake in Rigel Pharmaceuticals in the 1st quarter worth approximately $1,623,000. Finally, UBS Group AG lifted its holdings in Rigel Pharmaceuticals by 107.0% in the 1st quarter. UBS Group AG now owns 423,414 shares of the biotechnology company’s stock worth $1,499,000 after buying an additional 218,868 shares during the period. Institutional investors and hedge funds own 94.23% of the company’s stock.

Several brokerages recently weighed in on RIGL. HC Wainwright set a $8.00 target price on Rigel Pharmaceuticals and gave the company a “buy” rating in a report on Friday, October 5th. BidaskClub upgraded Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 5th. JPMorgan Chase & Co. restated an “overweight” rating and set a $7.00 target price on shares of Rigel Pharmaceuticals in a report on Tuesday, September 4th. ValuEngine upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $9.00 target price on shares of Rigel Pharmaceuticals in a report on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $7.59.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in the discovery and development of small molecule drugs for the treatment of immune and hematologic disorders, cancer, and rare diseases. The company's clinical programs include fostamatinib, an oral spleen tyrosine kinase inhibitor for immune thrombocytopenia purpura; and Phase II clinical study for autoimmune hemolytic anemia and immunoglobulin a nephropathy.

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Insider Buying and Selling by Quarter for Rigel Pharmaceuticals (NASDAQ:RIGL)

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