Assenagon Asset Management S.A. Has $9.41 Million Stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Assenagon Asset Management S.A. grew its holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 27.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 522,781 shares of the biotechnology company’s stock after acquiring an additional 112,003 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Rigel Pharmaceuticals were worth $9,405,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Rhumbline Advisers increased its holdings in shares of Rigel Pharmaceuticals by 5.4% in the first quarter. Rhumbline Advisers now owns 26,510 shares of the biotechnology company’s stock worth $477,000 after acquiring an additional 1,367 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Rigel Pharmaceuticals by 1.1% in the fourth quarter. Northern Trust Corp now owns 145,839 shares of the biotechnology company’s stock worth $2,453,000 after acquiring an additional 1,588 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Rigel Pharmaceuticals by 19.7% in the fourth quarter. MetLife Investment Management LLC now owns 12,258 shares of the biotechnology company’s stock worth $206,000 after acquiring an additional 2,014 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Rigel Pharmaceuticals by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 402,051 shares of the biotechnology company’s stock worth $6,764,000 after acquiring an additional 2,388 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Rigel Pharmaceuticals by 44.5% in the fourth quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 2,648 shares in the last quarter. 66.23% of the stock is currently owned by institutional investors.

Rigel Pharmaceuticals Stock Performance

NASDAQ:RIGL opened at $20.52 on Friday. The company has a market cap of $366.73 million, a PE ratio of 146.58 and a beta of 1.29. Rigel Pharmaceuticals, Inc. has a 52-week low of $7.48 and a 52-week high of $29.82. The stock has a 50-day simple moving average of $19.01 and a 200 day simple moving average of $19.78.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data 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. The business had revenue of $53.33 million during the quarter, compared to the consensus estimate of $43.87 million. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. During the same period last year, the company earned ($0.50) earnings per share. On average, research analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RIGL shares. Wall Street Zen downgraded Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 8th. Cantor Fitzgerald increased their price target on Rigel Pharmaceuticals from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. HC Wainwright restated a “buy” rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, March 5th. B. Riley increased their price target on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Finally, Citigroup increased their price objective on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.40.

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.