Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 80.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,053 shares of the biotechnology company's stock after selling 92,110 shares during the period. Nuveen Asset Management LLC owned approximately 0.13% of Rigel Pharmaceuticals worth $388,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its stake in shares of Rigel Pharmaceuticals by 44.5% in the fourth quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company's stock valued at $145,000 after purchasing an additional 2,648 shares during the period. SG Americas Securities LLC lifted its position in shares of Rigel Pharmaceuticals by 42.8% during the 4th quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock valued at $159,000 after acquiring an additional 2,827 shares during the period. Graham Capital Management L.P. purchased a new stake in shares of Rigel Pharmaceuticals during the 4th quarter worth approximately $170,000. Integrated Quantitative Investments LLC acquired a new stake in shares of Rigel Pharmaceuticals in the 4th quarter worth approximately $181,000. Finally, XTX Topco Ltd purchased a new position in Rigel Pharmaceuticals in the 4th quarter valued at approximately $184,000. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on RIGL. HC Wainwright reiterated a "buy" rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 5th. B. Riley boosted their price objective on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 5th. Citigroup increased their price objective on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Wall Street Zen downgraded shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 8th. Finally, Cantor Fitzgerald raised their price objective on shares of Rigel Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.40.

Rigel Pharmaceuticals Price Performance

RIGL traded up $0.36 during trading on Monday, hitting $21.85. The company's stock had a trading volume of 186,043 shares, compared to its average volume of 219,905. Rigel Pharmaceuticals, Inc. has a twelve month low of $7.48 and a twelve month high of $29.82. The stock has a market cap of $390.50 million, a PE ratio of 156.08 and a beta of 1.29. The firm's 50 day moving average price is $18.61 and its 200-day moving average price is $19.87.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last released its earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.14 by $0.49. The firm 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 14.80% and a net margin of 2.46%. During the same period in the prior year, the firm posted ($0.50) earnings per share. Equities analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

About Rigel Pharmaceuticals

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.