Hussman Strategic Advisors Inc. Buys New Shares in Rigel Pharmaceuticals, Inc. $RIGL

Key Points

• Hussman Strategic Advisors bought 52,500 shares of Rigel (NASDAQ:RIGL) in Q4 valued at about $2.25M, increasing institutional holdings as institutions now own 66.23% of the company.
• Rigel's latest quarter showed EPS $1.14 (miss vs. $1.33 consensus) while revenue of $69.8M slightly beat estimates, and the company reported very high profitability metrics (net margin 124.7% and ROE 79.8%).
• The stock trades around $29.40 (50-day MA $29.53, 200-day MA $35.51) with a market cap of ~$543M and a consensus analyst view of “Moderate Buy” with an average price target of $45.67.

Hussman Strategic Advisors Inc. bought a new stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 52,500 shares of the biotechnology company's stock, valued at approximately $2,249,000. Hussman Strategic Advisors Inc. owned 0.29% of Rigel Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall Wace LLP lifted its holdings in Rigel Pharmaceuticals by 63.0% in the third quarter. Marshall Wace LLP now owns 601,333 shares of the biotechnology company's stock valued at $17,036,000 after buying an additional 232,383 shares during the period. Qube Research & Technologies Ltd lifted its holdings in Rigel Pharmaceuticals by 110.6% in the third quarter. Qube Research & Technologies Ltd now owns 360,966 shares of the biotechnology company's stock valued at $10,226,000 after buying an additional 189,542 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in Rigel Pharmaceuticals by 8.5% in the third quarter. Hillsdale Investment Management Inc. now owns 284,394 shares of the biotechnology company's stock valued at $8,057,000 after buying an additional 22,330 shares during the period. Two Sigma Investments LP lifted its holdings in Rigel Pharmaceuticals by 474.6% in the third quarter. Two Sigma Investments LP now owns 220,298 shares of the biotechnology company's stock valued at $6,241,000 after buying an additional 181,956 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Rigel Pharmaceuticals by 35.1% during the third quarter. Dimensional Fund Advisors LP now owns 209,387 shares of the biotechnology company's stock valued at $5,933,000 after purchasing an additional 54,366 shares during the period. Institutional investors and hedge funds own 66.23% of the company's stock.

Rigel Pharmaceuticals Price Performance

Shares of NASDAQ RIGL opened at $29.40 on Friday. The firm's 50-day moving average price is $29.53 and its 200-day moving average price is $35.51. Rigel Pharmaceuticals, Inc. has a 1-year low of $16.88 and a 1-year high of $52.24. The firm has a market capitalization of $543.31 million, a P/E ratio of 1.55 and a beta of 1.21. The company has a current ratio of 2.42, a quick ratio of 2.30 and a debt-to-equity ratio of 0.06.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last announced its quarterly earnings data on Tuesday, March 3rd. The biotechnology company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.19). The company had revenue of $69.80 million for the quarter, compared to analyst estimates of $68.70 million. Rigel Pharmaceuticals had a net margin of 124.72% and a return on equity of 79.84%. Equities research analysts anticipate that Rigel Pharmaceuticals, Inc. will post 4.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RIGL shares. Zacks Research upgraded shares of Rigel Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 18th. Citigroup reiterated a "buy" rating on shares of Rigel Pharmaceuticals in a report on Wednesday, January 14th. Wall Street Zen lowered shares of Rigel Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Rigel Pharmaceuticals in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $45.67.

Insider Activity at Rigel Pharmaceuticals

In other news, Director Walter H. Moos sold 4,000 shares of the business's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $36.36, for a total transaction of $145,440.00. Following the completion of the sale, the director directly owned 12,722 shares of the company's stock, valued at $462,571.92. The trade was a 23.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.47% of the stock is currently owned by insiders.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.

Rigel's lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).

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