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

Soleus Capital Management L.P. grew its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 21.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,130,679 shares of the biotechnology company’s stock after buying an additional 195,891 shares during the quarter. Rigel Pharmaceuticals makes up 1.2% of Soleus Capital Management L.P.’s holdings, making the stock its 25th biggest holding. Soleus Capital Management L.P. owned 0.06% of Rigel Pharmaceuticals worth $19,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. acquired a new position in Rigel Pharmaceuticals in the fourth quarter valued at $63,000. Wells Fargo & Company MN lifted its stake in shares of Rigel Pharmaceuticals by 44.5% in the 4th quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 2,648 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Rigel Pharmaceuticals by 42.8% during the 4th quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 2,827 shares during the period. Graham Capital Management L.P. purchased a new stake in shares of Rigel Pharmaceuticals during the 4th quarter worth about $170,000. Finally, Integrated Quantitative Investments LLC acquired a new stake in Rigel Pharmaceuticals during the 4th quarter worth approximately $181,000. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on RIGL shares. B. Riley lifted their price target on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. StockNews.com lowered shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 8th. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 5th. Citigroup raised their price objective on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Cantor Fitzgerald boosted their price objective on Rigel Pharmaceuticals from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Rigel Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

Rigel Pharmaceuticals Trading Up 0.5%

RIGL opened at $19.83 on Monday. Rigel Pharmaceuticals, Inc. has a twelve month low of $7.48 and a twelve month high of $29.82. The firm has a market cap of $354.40 million, a price-to-earnings ratio of 141.65 and a beta of 1.34. The company has a fifty day simple moving average of $18.47 and a 200 day simple moving average of $20.03.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.49. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. The business had revenue of $53.33 million for the quarter, compared to analyst estimates of $43.87 million. During the same period in the previous year, the company earned ($0.50) earnings per share. On average, analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Rigel Pharmaceuticals Company 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.