Armistice Capital LLC Has $27.27 Million Stock Holdings in Rigel Pharmaceuticals, Inc. $RIGL

Key Points

• Armistice Capital LLC increased its stake in Rigel Pharmaceuticals by 31.6%, owning 1,516,000 shares worth approximately $27.27 million as of the latest reporting period.
• Rigel Pharmaceuticals reported earnings of $3.28 per share, exceeding analysts' expectations of $1.97, with a net margin of 36.51% and revenue of $101.69 million during the quarter.
• The stock currently has a consensus rating of "Hold" from analysts, with a price target increase from Cantor Fitzgerald to $32.00.

Armistice Capital LLC increased its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 31.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,516,000 shares of the biotechnology company's stock after acquiring an additional 364,000 shares during the period. Armistice Capital LLC owned approximately 8.48% of Rigel Pharmaceuticals worth $27,273,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RIGL. Soleus Capital Management L.P. raised its position in shares of Rigel Pharmaceuticals by 21.0% in the 4th quarter. Soleus Capital Management L.P. now owns 1,130,679 shares of the biotechnology company's stock valued at $19,018,000 after purchasing an additional 195,891 shares in the last quarter. Invesco Ltd. acquired a new position in shares of Rigel Pharmaceuticals in the 1st quarter valued at approximately $2,412,000. Nuveen LLC acquired a new position in shares of Rigel Pharmaceuticals in the 1st quarter valued at approximately $2,073,000. Pacer Advisors Inc. acquired a new position in shares of Rigel Pharmaceuticals in the 1st quarter valued at approximately $2,026,000. Finally, Assenagon Asset Management S.A. grew its stake in Rigel Pharmaceuticals by 27.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 522,781 shares of the biotechnology company's stock worth $9,405,000 after buying an additional 112,003 shares during the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Trading Up 1.0%

Shares of NASDAQ:RIGL traded up $0.40 during midday trading on Friday, reaching $40.53. The company had a trading volume of 221,774 shares, compared to its average volume of 319,437. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.02. Rigel Pharmaceuticals, Inc. has a 1-year low of $12.66 and a 1-year high of $43.72. The firm has a market cap of $727.02 million, a price-to-earnings ratio of 7.50 and a beta of 1.27. The company has a fifty day simple moving average of $27.81 and a two-hundred day simple moving average of $22.27.

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

Analysts Set New Price Targets

Separately, Cantor Fitzgerald upped their price objective on Rigel Pharmaceuticals from $23.00 to $32.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.