Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Shares Acquired by Two Sigma Advisers LP

Two Sigma Advisers LP grew its position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 63.0% during the fourth quarter, according to its most recent filing with the SEC. The firm 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 about 0.36% of Rigel Pharmaceuticals worth $1,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP purchased a new position in shares of Rigel Pharmaceuticals during the 4th quarter valued at about $288,000. SG Americas Securities LLC increased its stake in Rigel Pharmaceuticals by 42.8% in the 4th quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock worth $159,000 after buying an additional 2,827 shares during the period. JPMorgan Chase & Co. grew its stake in Rigel Pharmaceuticals by 587.9% in the fourth quarter. JPMorgan Chase & Co. now owns 180,492 shares of the biotechnology company's stock worth $3,036,000 after purchasing an additional 154,254 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Rigel Pharmaceuticals by 15.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 86,001 shares of the biotechnology company's stock valued at $1,447,000 after acquiring an additional 11,499 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in Rigel Pharmaceuticals during the fourth quarter valued at about $588,000. Hedge funds and other institutional investors own 66.23% of the company's stock.

Rigel Pharmaceuticals Trading Up 0.7%

Shares of Rigel Pharmaceuticals stock traded up $0.15 during trading on Wednesday, reaching $20.54. The company's stock had a trading volume of 136,037 shares, compared to its average volume of 218,660. The firm has a market cap of $367.09 million, a PE ratio of 146.72 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 company has a 50-day moving average price of $18.46 and a two-hundred day moving average price of $19.96.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.49. The firm had revenue of $53.33 million for the quarter, compared to the consensus estimate 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 previous year, the firm earned ($0.50) earnings per share. On average, analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.