Dynamic Technology Lab Private Ltd Acquires Shares of 27,117 Rigel Pharmaceuticals, Inc. $RIGL

Key Points

• Dynamic Technology Lab Private Ltd acquired 27,117 shares of Rigel Pharmaceuticals, valued at approximately $488,000, indicating growing institutional interest in the biotechnology sector.
• Rigel Pharmaceuticals recently reported an impressive quarterly earnings of $3.28 EPS, surpassing the consensus estimate by $1.31, with revenues significantly exceeding analysts' expectations.
• Analysts have raised Rigel Pharmaceuticals' target price to $32.00 while maintaining a consensus rating of "Hold", reflecting cautious optimism about the stock's potential.

Dynamic Technology Lab Private Ltd acquired a new stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 27,117 shares of the biotechnology company's stock, valued at approximately $488,000. Dynamic Technology Lab Private Ltd owned 0.15% of Rigel Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP purchased a new position in Rigel Pharmaceuticals during the fourth quarter valued at approximately $288,000. Two Sigma Investments LP purchased a new stake in Rigel Pharmaceuticals during the fourth quarter worth $1,025,000. Deutsche Bank AG grew its position in Rigel Pharmaceuticals by 100.5% during the fourth quarter. Deutsche Bank AG now owns 13,744 shares of the biotechnology company's stock valued at $231,000 after buying an additional 6,890 shares during the period. GSA Capital Partners LLP acquired a new stake in Rigel Pharmaceuticals during the first quarter valued at $804,000. Finally, Millennium Management LLC purchased a new position in Rigel Pharmaceuticals in the fourth quarter valued at $1,185,000. 66.23% of the stock is owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Stock Performance

NASDAQ:RIGL opened at $36.48 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.02. The stock has a market capitalization of $654.45 million, a PE ratio of 6.74 and a beta of 1.27. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $43.72. The company has a fifty day moving average of $29.39 and a two-hundred day moving average of $22.77.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The biotechnology company reported $3.28 EPS for the quarter, topping the consensus estimate of $1.97 by $1.31. The company 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. As a group, research analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald increased their target price on shares of Rigel Pharmaceuticals from $23.00 to $32.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $38.20.

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.

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