Stock of the Day: Could Rigel Pharmaceuticals, Inc. Lose Strenght? The Stock Increases A Lot Today

Stock of the Day: Could Rigel Pharmaceuticals, Inc. Lose Strenght? The Stock Increases A Lot Today

The stock of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) is a huge mover today! About 353,351 shares traded hands. Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has risen 28.45% since April 11, 2016 and is uptrending. It has outperformed by 22.31% the S&P500.
The move comes after 7 months positive chart setup for the $333.98 million company. It was reported on Nov, 11 by Barchart.com. We have $7.49 PT which if reached, will make NASDAQ:RIGL worth $457.55M 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 company was initiated on Monday, June 13 by Piper Jaffray. The rating was maintained by BMO Capital Markets on Wednesday, August 31 with “Outperform”. On Wednesday, July 13 the stock rating was initiated by H.C. Wainwright with “Buy”. The firm has “Buy” rating by H.C. Wainwright given on Wednesday, August 31. Zacks upgraded Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) rating on Saturday, August 8. Zacks has “Hold” rating and $3.25 price target. The company was maintained on Tuesday, August 30 by Piper Jaffray. Jefferies maintained the stock with “Buy” rating in Monday, May 16 report.

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.
Morgan Stanley holds 0% or 54,778 shares in its portfolio. Alliancebernstein Limited Partnership, a New York-based fund reported 116,140 shares. Jacobs Levy Equity Mgmt last reported 0.03% of its portfolio in the stock. Moreover, Dafna Mgmt Llc has 3.26% invested in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 1.85 million shares. State Street Corp holds 1.59M shares or 0% of its portfolio. The New York-based Boothbay Fund Management Ltd Liability Com has invested 0.03% in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL). The New York-based Amer Grp Inc Inc has invested 0% in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL). Bnp Paribas Arbitrage Sa holds 0% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 3,615 shares. Utd Ser Automobile Association holds 0% or 134,930 shares in its portfolio. Clarivest Asset Llc holds 0.01% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 135,200 shares. Kcg Holdg holds 39,160 shares or 0% of its portfolio. Springbok Cap Mgmt Limited Liability has invested 0.01% of its portfolio in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL). Cornerstone Cap Mngmt Hldgs Ltd Llc has 73,700 shares for 0% of their US portfolio. Moreover, Tfs Capital Limited has 0.1% invested in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) for 231,756 shares. Legal General Group Plc last reported 17,309 shares in the company.

Insider Transactions: Since August 30, 2016, the stock had 0 buys, and 1 insider sale for $21,214 net activity. Another trade for 5,303 shares valued at $21,214 was sold by PAYAN DONALD G.

More important 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 article titled: “Here’s Why Rigel Pharmaceuticals, Inc. is Skyrocketing Today”, Prnewswire.com published: “Rigel Restructures to Focus on Fostamatinib Commercialization” on September 15, 2016. More interesting news about Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) was released by: Prnewswire.com and their article: “Rigel Announces Second Quarter 2016 Financial Results and Provides Portfolio …” with publication date: August 02, 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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