Rigel Pharmaceuticals (RIGL) Shares are Down -8.77%

Rigel Pharmaceuticals (RIGL) has risen sharply, recording gains of 28.9% in the past 4 weeks. However, the stock has corrected -8.77% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 27.58% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

The stock has recorded a 20-day Moving Average of 11.75% and the 50-Day Moving Average is 16.57%. Rigel Pharmaceuticals (NASDAQ:RIGL): The stock was completely flat for the day, closing at $2.81 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $2.81, the stock touched an intraday high of $2.83 and a low of $2.72. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $2.81. The total trading volume on Friday was 751,432.


The company Insiders own 7.07% of Rigel Pharmaceuticals shares according to the proxy statements. Institutional Investors own 89.94% of Rigel Pharmaceuticals shares. Also, BMO Capital initiates coverage on Rigel Pharmaceuticals (NASDAQ:RIGL) The current rating of the shares is Outperform. The rating by the firm was issued on August 1, 2016.

Rigel Pharmaceuticals, Inc. is a clinical-stage drug development company. The Company discovers and develops small-molecule drugs for the treatment of inflammatory and autoimmune diseases, immuno-oncology related diseases, and muscle disorders. Its research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. It has various product candidates in development: fostamatinib; R348; two oncology product candidates, and two preclinical programs. Fostamatinib is an oral spleen tyrosine kinase (SYK) inhibitor. R348 is a topical janus kinase (JAK)/SYK inhibitor. It is conducting research in the disease areas of inflammation/immunology and muscle wasting/muscle endurance.

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