Segall Bryant & Hamill LLC Purchases New Shares in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Segall Bryant & Hamill LLC bought a new stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 36,259 shares of the biotechnology company’s stock, valued at approximately $610,000.

Other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in Rigel Pharmaceuticals by 6.3% during the fourth quarter. Rhumbline Advisers now owns 25,143 shares of the biotechnology company’s stock valued at $423,000 after buying an additional 1,485 shares during the period. State Street Corp lifted its position in Rigel Pharmaceuticals by 0.7% during the third quarter. State Street Corp now owns 367,795 shares of the biotechnology company’s stock valued at $5,951,000 after purchasing an additional 2,552 shares during the last quarter. SG Americas Securities LLC grew its stake 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 buying an additional 2,827 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Rigel Pharmaceuticals during the 4th quarter valued at $63,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Rigel Pharmaceuticals by 10.3% during the 4th quarter. Bank of New York Mellon Corp now owns 50,195 shares of the biotechnology company’s stock worth $844,000 after acquiring an additional 4,672 shares during the last quarter. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Rigel Pharmaceuticals

In other news, EVP David A. Santos sold 2,125 shares of Rigel Pharmaceuticals 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 completion of the transaction, the executive vice president now owns 53,500 shares in the company, valued at approximately $1,119,220. The trade was a 3.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Raul R. Rodriguez sold 4,952 shares of the stock in a transaction 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 sale, the chief executive officer now owns 243,854 shares in the company, valued at $5,101,425.68. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,113 shares of company stock valued at $190,644. Insiders own 9.04% of the company’s stock.

Rigel Pharmaceuticals Price Performance

Shares of RIGL stock opened at $17.88 on Friday. The firm has a fifty day moving average price of $21.02 and a 200-day moving average price of $19.18. The company has a market cap of $319.39 million, a price-to-earnings ratio of 127.72 and a beta of 1.35. Rigel Pharmaceuticals, Inc. has a 1 year low of $7.48 and a 1 year high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.50. The company had revenue of $57.60 million for the quarter, compared to the consensus estimate of $57.59 million. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. Equities research analysts expect that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

About Rigel Pharmaceuticals

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.