Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Shares Bought by Soleus Capital Management L.P.

Soleus Capital Management L.P. lifted its holdings in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 21.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,130,679 shares of the biotechnology company's stock after purchasing an additional 195,891 shares during the quarter. Rigel Pharmaceuticals comprises approximately 1.2% of Soleus Capital Management L.P.'s investment portfolio, making the stock its 25th biggest position. Soleus Capital Management L.P. owned 6.42% of Rigel Pharmaceuticals worth $19,018,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Squarepoint Ops LLC lifted its stake in Rigel Pharmaceuticals by 40.1% during the 4th quarter. Squarepoint Ops LLC now owns 63,416 shares of the biotechnology company's stock worth $1,067,000 after acquiring an additional 18,159 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Rigel Pharmaceuticals by 63.0% during the 4th quarter. Two Sigma Advisers LP now owns 63,128 shares of the biotechnology company's stock worth $1,062,000 after acquiring an additional 24,400 shares in the last quarter. Two Sigma Investments LP acquired a new position in Rigel Pharmaceuticals during the 4th quarter worth about $1,025,000. Sherbrooke Park Advisers LLC acquired a new position in Rigel Pharmaceuticals during the 4th quarter worth about $186,000. Finally, Millennium Management LLC acquired a new position in Rigel Pharmaceuticals during the 4th quarter worth about $1,185,000. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals Stock Down 4.0%

RIGL traded down $0.78 on Friday, reaching $18.95. The company's stock had a trading volume of 269,431 shares, compared to its average volume of 217,173. The company has a market capitalization of $338.67 million, a price-to-earnings ratio of 135.37 and a beta of 1.34. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $7.48 and a fifty-two week high of $29.82. The stock has a 50 day moving average of $18.42 and a two-hundred day moving average of $20.14.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.49. The business had revenue of $53.33 million during the quarter, compared to analysts' expectations of $43.87 million. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. During the same quarter in the prior year, the business posted ($0.50) EPS. As a group, analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.