Two Sigma Advisers LP Has $1.06 Million Position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Two Sigma Advisers LP boosted its holdings in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 63.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,128 shares of the biotechnology company's stock after acquiring an additional 24,400 shares during the period. Two Sigma Advisers LP owned approximately 0.36% of Rigel Pharmaceuticals worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in shares of Rigel Pharmaceuticals by 111.1% in the 4th quarter. Renaissance Technologies LLC now owns 299,709 shares of the biotechnology company's stock valued at $5,041,000 after purchasing an additional 157,763 shares during the period. JPMorgan Chase & Co. increased its position in shares of Rigel Pharmaceuticals by 587.9% in the fourth quarter. JPMorgan Chase & Co. now owns 180,492 shares of the biotechnology company's stock valued at $3,036,000 after acquiring an additional 154,254 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Rigel Pharmaceuticals by 814.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 170,100 shares of the biotechnology company's stock valued at $2,861,000 after acquiring an additional 151,500 shares during the last quarter. Norges Bank acquired a new stake in shares of Rigel Pharmaceuticals in the fourth quarter valued at about $2,178,000. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Rigel Pharmaceuticals in the fourth quarter valued at about $1,444,000. 66.23% of the stock is currently owned by institutional investors.

Rigel Pharmaceuticals Price Performance

NASDAQ RIGL traded up $0.62 on Tuesday, reaching $20.77. The company had a trading volume of 113,837 shares, compared to its average volume of 219,055. The firm has a market cap of $371.20 million, a price-to-earnings ratio of 148.37 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 business has a 50 day moving average of $18.37 and a two-hundred day moving average of $19.96.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.49. The business had revenue of $53.33 million during the quarter, compared to the consensus estimate 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 business posted ($0.50) earnings per share. As a group, research analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.