Jackson Creek Investment Advisors LLC Invests $684,000 in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Jackson Creek Investment Advisors LLC bought a new stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 38,045 shares of the biotechnology company's stock, valued at approximately $684,000. Jackson Creek Investment Advisors LLC owned about 0.21% of Rigel Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RIGL. Massachusetts Financial Services Co. MA bought a new stake in Rigel Pharmaceuticals during the first quarter worth $600,000. New York State Common Retirement Fund lifted its holdings in Rigel Pharmaceuticals by 65.9% during the first quarter. New York State Common Retirement Fund now owns 5,536 shares of the biotechnology company's stock worth $100,000 after acquiring an additional 2,200 shares during the period. Assenagon Asset Management S.A. lifted its holdings in 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 worth $9,405,000 after acquiring an additional 112,003 shares during the period. Rhumbline Advisers lifted its holdings in Rigel Pharmaceuticals by 5.4% during the first quarter. Rhumbline Advisers now owns 26,510 shares of the biotechnology company's stock worth $477,000 after acquiring an additional 1,367 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Rigel Pharmaceuticals by 20,566.7% in the first quarter. GAMMA Investing LLC now owns 17,360 shares of the biotechnology company's stock valued at $312,000 after buying an additional 17,276 shares during the period. Hedge funds and other institutional investors own 66.23% of the company's stock.

Rigel Pharmaceuticals Trading Down 0.6%

RIGL stock traded down $0.11 during trading on Friday, hitting $18.80. 133,006 shares of the company traded hands, compared to its average volume of 211,322. The firm has a market capitalization of $335.96 million, a PE ratio of 9.08 and a beta of 1.26. Rigel Pharmaceuticals, Inc. has a 1 year low of $8.61 and a 1 year high of $29.82. The company has a 50-day moving average of $19.53 and a 200-day moving average of $19.48. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.13 and a current ratio of 2.20.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.49. The business had revenue of $53.33 million during the quarter, compared to analyst estimates of $43.87 million. Rigel Pharmaceuticals had a negative return on equity of 655.26% and a net margin of 18.31%. During the same quarter in the prior year, the company posted ($0.50) EPS. Analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald boosted their price objective on Rigel Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.40.

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.