Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Shares Bought by Globeflex Capital L P

Globeflex Capital L P increased its holdings in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 468.4% in the fourth quarter, Holdings Channel reports. The firm owned 52,295 shares of the biotechnology company’s stock after acquiring an additional 43,095 shares during the period. Globeflex Capital L P’s holdings in Rigel Pharmaceuticals were worth $880,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in Rigel Pharmaceuticals by 6.3% in the 4th quarter. Rhumbline Advisers now owns 25,143 shares of the biotechnology company’s stock worth $423,000 after acquiring an additional 1,485 shares during the period. State Street Corp boosted its holdings in Rigel Pharmaceuticals by 0.7% in the 3rd quarter. State Street Corp now owns 367,795 shares of the biotechnology company’s stock worth $5,951,000 after acquiring an additional 2,552 shares during the period. SG Americas Securities LLC boosted its holdings in Rigel Pharmaceuticals by 42.8% in the 4th quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock worth $159,000 after acquiring an additional 2,827 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of Rigel Pharmaceuticals during the 4th quarter valued at approximately $63,000. Finally, Stonepine Capital Management LLC boosted its stake in shares of Rigel Pharmaceuticals by 1.3% during the 3rd quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company’s stock valued at $5,001,000 after buying an additional 4,100 shares during the last quarter. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Up 1.1 %

NASDAQ:RIGL opened at $20.13 on Friday. Rigel Pharmaceuticals, Inc. has a 1-year low of $7.48 and a 1-year high of $29.82. The firm has a market capitalization of $359.58 million, a price-to-earnings ratio of 143.80 and a beta of 1.35. The stock has a fifty day simple moving average of $20.51 and a 200 day simple moving average of $18.73.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, March 4th. The biotechnology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.50. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. The firm had revenue of $57.60 million during the quarter, compared to analyst estimates of $57.59 million. Equities analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RIGL. B. Riley upped their price target on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. Cantor Fitzgerald increased their target price on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. HC Wainwright reissued a “buy” rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, March 5th. StockNews.com lowered Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 8th. Finally, Citigroup raised their price target on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Insider Activity at Rigel Pharmaceuticals

In other Rigel Pharmaceuticals news, EVP David A. Santos sold 2,125 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total value of $44,455.00. Following the sale, the executive vice president now owns 53,500 shares of the company’s stock, valued at $1,119,220. This trade represents a 3.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Raul R. Rodriguez sold 4,952 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $103,595.84. Following the completion of the sale, the chief executive officer now directly owns 243,854 shares in the company, valued at $5,101,425.68. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,113 shares of company stock valued at $190,644. Corporate insiders own 9.04% of the company’s stock.

Rigel Pharmaceuticals Profile

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing therapies that enhance the lives of patients with hematologic disorders and cancer. The company’s commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; Rezlidhia, a non-intensive monotherapy for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer, as well as for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.