Nuveen LLC Takes $2.07 Million Position in Rigel Pharmaceuticals, Inc. $RIGL

Key Points

• Nuveen LLC acquired 115,218 shares of Rigel Pharmaceuticals in Q1, valued at approximately $2,073,000, which is 0.64% of the company's stock.
• Rigel Pharmaceuticals reported a profit of $3.28 per share for the last quarter, exceeding estimates by $1.31, with a net margin of 36.51%.
• Wall Street analysts have upgraded Rigel's target price from $23.00 to $32.00, maintaining a "neutral" rating with a consensus rating of "Hold".

Nuveen LLC bought a new position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 115,218 shares of the biotechnology company's stock, valued at approximately $2,073,000. Nuveen LLC owned about 0.64% of Rigel Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Soleus Capital Management L.P. lifted its position in shares of Rigel Pharmaceuticals by 21.0% during the fourth quarter. Soleus Capital Management L.P. now owns 1,130,679 shares of the biotechnology company's stock worth $19,018,000 after acquiring an additional 195,891 shares in the last quarter. Vanguard Group Inc. raised its holdings in Rigel Pharmaceuticals by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,028,072 shares of the biotechnology company's stock worth $18,495,000 after buying an additional 15,141 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Rigel Pharmaceuticals by 27.3% during the first quarter. Assenagon Asset Management S.A. now owns 522,781 shares of the biotechnology company's stock valued at $9,405,000 after buying an additional 112,003 shares during the last quarter. CM Management LLC grew its stake in shares of Rigel Pharmaceuticals by 3.1% in the first quarter. CM Management LLC now owns 250,000 shares of the biotechnology company's stock worth $4,498,000 after acquiring an additional 7,500 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in Rigel Pharmaceuticals by 14.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 202,089 shares of the biotechnology company's stock worth $3,399,000 after purchasing an additional 24,749 shares during the last quarter. Institutional investors own 66.23% of the company's stock.

Rigel Pharmaceuticals Stock Performance

Rigel Pharmaceuticals stock traded up $0.25 during mid-day trading on Wednesday, hitting $38.71. The company had a trading volume of 342,750 shares, compared to its average volume of 315,649. The company has a current ratio of 2.02, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. Rigel Pharmaceuticals, Inc. has a 12-month low of $12.66 and a 12-month high of $43.72. The company's fifty day moving average is $26.96 and its 200-day moving average is $22.02. The company has a market capitalization of $694.37 million, a price-to-earnings ratio of 7.15 and a beta of 1.27.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The biotechnology company reported $3.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.97 by $1.31. Rigel Pharmaceuticals had a net margin of 36.51% and a return on equity of 438.89%. The company had revenue of $101.69 million during the quarter, compared to analysts' expectations of $64.58 million. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald boosted their price target on Rigel Pharmaceuticals from $23.00 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $38.20.

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.