Janus Henderson Group PLC Boosts Position in Rigel Pharmaceuticals, Inc. $RIGL

Janus Henderson Group PLC raised its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 275.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,877 shares of the biotechnology company’s stock after acquiring an additional 99,659 shares during the quarter. Janus Henderson Group PLC owned approximately 0.73% of Rigel Pharmaceuticals worth $3,674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ruffer LLP purchased a new position in shares of Rigel Pharmaceuticals in the fourth quarter worth approximately $1,598,000. Ritholtz Wealth Management increased its holdings in Rigel Pharmaceuticals by 961.3% during the fourth quarter. Ritholtz Wealth Management now owns 80,593 shares of the biotechnology company’s stock valued at $3,452,000 after buying an additional 72,999 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Rigel Pharmaceuticals during the fourth quarter valued at approximately $2,364,000. Hussman Strategic Advisors Inc. bought a new position in Rigel Pharmaceuticals in the fourth quarter worth approximately $2,249,000. Finally, Empowered Funds LLC bought a new position in Rigel Pharmaceuticals in the first quarter worth approximately $2,234,000. 66.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rigel Pharmaceuticals

In related news, Director Kamil Ali-Jackson sold 2,500 shares of Rigel Pharmaceuticals stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $35.00, for a total transaction of $87,500.00. Following the sale, the director owned 10,125 shares of the company’s stock, valued at approximately $354,375. This trade represents a 19.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 10.47% of the company’s stock.

Rigel Pharmaceuticals Stock Performance

Shares of RIGL stock opened at $40.17 on Friday. Rigel Pharmaceuticals, Inc. has a 52-week low of $24.95 and a 52-week high of $52.24. The firm has a market capitalization of $743.14 million, a PE ratio of 2.46 and a beta of 1.16. The stock has a fifty day simple moving average of $36.87 and a two-hundred day simple moving average of $33.03.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.09 by $0.79. Rigel Pharmaceuticals had a return on equity of 22.95% and a net margin of 116.30%.The business had revenue of $78.70 million for the quarter, compared to the consensus estimate of $55.27 million. On average, sell-side analysts forecast that Rigel Pharmaceuticals, Inc. will post 2.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RIGL has been the subject of a number of recent research reports. Citigroup reissued a “buy” rating on shares of Rigel Pharmaceuticals in a research report on Thursday. Weiss Ratings raised Rigel Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Zacks Research downgraded Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.50.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.

Rigel’s lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).