Today’s Stock Alert: Is Buying Stock Like Rigel Pharmaceuticals, Inc. After Such Increase Winning Strategy?

Today's Stock Alert: Is Buying Stock Like Rigel Pharmaceuticals, Inc. After Such Increase Winning Strategy?

The stock of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) is a huge mover today! About 243,493 shares traded hands. Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has risen 6.38% since April 4, 2016 and is uptrending. It has outperformed by 5.29% the S&P500.
The move comes after 5 months positive chart setup for the $243.87M company. It was reported on Nov, 4 by Barchart.com. We have $7.26 PT which if reached, will make NASDAQ:RIGL worth $421.90M more.

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 firm has “Hold” rating by Zacks given on Saturday, August 8. The firm earned “Buy” rating on Wednesday, August 31 by H.C. Wainwright. The firm has “Outperform” rating by BMO Capital Markets given on Wednesday, August 31. The firm has “Overweight” rating by Piper Jaffray given on Tuesday, August 30. Piper Jaffray initiated the shares of RIGL in a report on Monday, June 13 with “Overweight” rating. Jefferies maintained the stock with “Buy” rating in Monday, May 16 report. H.C. Wainwright initiated Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) on Wednesday, July 13 with “Buy” rating.

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.
Legal & General Group Public Ltd Com, a United Kingdom-based fund reported 17,309 shares. The New York-based Springbok Cap Ltd has invested 0.01% in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL). Bridgeway Management Inc has invested 0.01% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL). Capital Guardian Trust Company reported 46 shares or 0% of all its holdings. Vanguard Grp Inc Inc last reported 4.62 million shares in the company. Principal Gp Inc owns 16,601 shares or 0% of their US portfolio. Barclays Public Ltd Liability Corp has 79,851 shares for 0% of their US portfolio. Blackrock holds 0% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 29,568 shares. Clarivest Asset Mngmt Ltd Liability holds 135,200 shares or 0.01% of its portfolio. The Pennsylvania-based Susquehanna Grp Inc Ltd Liability Partnership has invested 0% in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL). Globeflex Cap Lp holds 0.21% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 339,528 shares. Moreover, Spark Management Limited Co has 0.02% invested in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 75,600 shares. The New York-based Morgan Stanley has invested 0% in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL). Moreover, Prudential has 0% invested in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 40,612 shares. Manufacturers Life Company The last reported 0% of its portfolio in the stock.

Insider Transactions: Since August 30, 2016, the stock had 0 insider purchases, and 1 insider sale for $21,214 net activity. PAYAN DONALD G also sold $21,214 worth of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) shares.

Another recent and important Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) news was published by Fool.com which published an article titled: “Why Rigel Pharmaceuticals, Inc. Got Hammered Today” on October 20, 2016.

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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