85,878 Shares in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc acquired a new stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 85,878 shares of the biotechnology company’s stock, valued at approximately $1,444,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in shares of Rigel Pharmaceuticals by 111.1% during the 4th quarter. Renaissance Technologies LLC now owns 299,709 shares of the biotechnology company’s stock worth $5,041,000 after purchasing an additional 157,763 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Rigel Pharmaceuticals by 587.9% in the 4th quarter. JPMorgan Chase & Co. now owns 180,492 shares of the biotechnology company’s stock valued at $3,036,000 after buying an additional 154,254 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in Rigel Pharmaceuticals by 814.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 170,100 shares of the biotechnology company’s stock valued at $2,861,000 after buying an additional 151,500 shares during the last quarter. Norges Bank purchased a new position in Rigel Pharmaceuticals during the fourth quarter worth $2,178,000. Finally, Zacks Investment Management purchased a new position in Rigel Pharmaceuticals during the fourth quarter worth $1,437,000. 66.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Rigel Pharmaceuticals Trading Up 0.5%

Rigel Pharmaceuticals stock opened at $19.83 on Friday. The stock has a fifty day moving average price of $18.47 and a 200 day moving average price of $19.95. Rigel Pharmaceuticals, Inc. has a 52 week low of $7.48 and a 52 week high of $29.82. The firm has a market capitalization of $354.40 million, a P/E ratio of 141.65 and a beta of 1.34.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.14 by $0.49. The company had revenue of $53.33 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned ($0.50) EPS. As a group, equities analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

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.