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

Ensign Peak Advisors Inc acquired a new position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 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 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Deutsche Bank AG increased its holdings in shares of Rigel Pharmaceuticals by 100.5% in the fourth quarter. Deutsche Bank AG now owns 13,744 shares of the biotechnology company's stock worth $231,000 after purchasing an additional 6,890 shares during the period. Bank of America Corp DE increased its stake in Rigel Pharmaceuticals by 12.3% in the 4th quarter. Bank of America Corp DE now owns 32,166 shares of the biotechnology company's stock worth $541,000 after acquiring an additional 3,520 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Rigel Pharmaceuticals by 47.1% in the 4th quarter. BNP Paribas Financial Markets now owns 30,901 shares of the biotechnology company's stock worth $520,000 after acquiring an additional 9,893 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Rigel Pharmaceuticals by 144.4% in the 4th quarter. Jane Street Group LLC now owns 62,528 shares of the biotechnology company's stock valued at $1,052,000 after acquiring an additional 36,939 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Rigel Pharmaceuticals by 1.1% during the 4th quarter. Northern Trust Corp now owns 145,839 shares of the biotechnology company's stock valued at $2,453,000 after acquiring an additional 1,588 shares during the last quarter. Institutional investors own 66.23% of the company's stock.

Rigel Pharmaceuticals Price Performance

NASDAQ RIGL traded up $0.42 during trading on Tuesday, hitting $20.12. 174,248 shares of the company's stock traded hands, compared to its average volume of 215,445. The stock has a fifty day moving average of $18.46 and a two-hundred day moving average of $20.07. Rigel Pharmaceuticals, Inc. has a 12-month low of $7.48 and a 12-month high of $29.82. The firm has a market cap of $359.58 million, a P/E ratio of 143.72 and a beta of 1.34.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last announced its quarterly 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. The business had revenue of $53.33 million for the quarter, compared to analyst estimates of $43.87 million. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. During the same quarter last year, the firm earned ($0.50) EPS. As a group, analysts expect that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.