Ensign Peak Advisors Inc Makes New $1.44 Million Investment in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Ensign Peak Advisors Inc purchased a new stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 85,878 shares of the biotechnology company's stock, valued at approximately $1,444,000. Ensign Peak Advisors Inc owned approximately 0.49% of Rigel Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Rigel Pharmaceuticals by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 1,012,931 shares of the biotechnology company's stock worth $17,038,000 after purchasing an additional 27,640 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Rigel Pharmaceuticals by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 402,051 shares of the biotechnology company's stock valued at $6,764,000 after buying an additional 2,388 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Rigel Pharmaceuticals by 111.1% in the fourth quarter. Renaissance Technologies LLC now owns 299,709 shares of the biotechnology company's stock worth $5,041,000 after buying an additional 157,763 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Rigel Pharmaceuticals by 587.9% during the fourth quarter. JPMorgan Chase & Co. now owns 180,492 shares of the biotechnology company's stock worth $3,036,000 after acquiring an additional 154,254 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Rigel Pharmaceuticals by 814.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 170,100 shares of the biotechnology company's stock worth $2,861,000 after acquiring an additional 151,500 shares during the last quarter. 66.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Rigel Pharmaceuticals Stock Down 1.0%

RIGL traded down $0.21 during trading hours on Thursday, reaching $20.74. 50,372 shares of the company's stock traded hands, compared to its average volume of 215,965. The firm has a 50-day moving average price of $18.48 and a 200 day moving average price of $20.07. The firm has a market capitalization of $370.58 million, a PE ratio of 148.30 and a beta of 1.34. Rigel Pharmaceuticals, Inc. has a 52-week low of $7.48 and a 52-week high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.49. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. The firm had revenue of $53.33 million during the quarter, compared to analyst estimates of $43.87 million. During the same period in the previous year, the firm earned ($0.50) earnings per share. Equities analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current fiscal 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.