27,117 Shares in Rigel Pharmaceuticals, Inc. $RIGL Purchased by Dynamic Technology Lab Private Ltd

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 bought a new stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 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 large investors also recently added to or reduced their stakes in the company. Armistice Capital LLC raised its stake in Rigel Pharmaceuticals by 31.6% during the 1st quarter. Armistice Capital LLC now owns 1,516,000 shares of the biotechnology company's stock valued at $27,273,000 after purchasing an additional 364,000 shares during the period. Soleus Capital Management L.P. raised its stake in Rigel Pharmaceuticals by 21.0% during 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 during the period. Vanguard Group Inc. raised its stake in Rigel Pharmaceuticals by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,028,072 shares of the biotechnology company's stock valued at $18,495,000 after purchasing an additional 15,141 shares during the period. Assenagon Asset Management S.A. raised 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 valued at $9,405,000 after purchasing an additional 112,003 shares during the period. Finally, CM Management LLC raised its stake in Rigel Pharmaceuticals by 3.1% during the 1st quarter. CM Management LLC now owns 250,000 shares of the biotechnology company's stock valued at $4,498,000 after purchasing an additional 7,500 shares during the period. 66.23% of the stock is owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Price Performance

NASDAQ:RIGL traded down $2.32 during mid-day trading on Tuesday, hitting $34.98. The company's stock had a trading volume of 405,666 shares, compared to its average volume of 710,343. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $13.37 and a fifty-two week high of $43.72. The company has a current ratio of 2.02, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $627.54 million, a price-to-earnings ratio of 6.47 and a beta of 1.27. The stock has a fifty day moving average of $30.85 and a 200-day moving average of $23.19.

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

Analysts Set New Price Targets

Separately, Cantor Fitzgerald boosted their price target on shares of 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.