Universal Beteiligungs und Servicegesellschaft mbH Purchases Shares of 40,200 Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 40,200 shares of the biotechnology company's stock, valued at approximately $676,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.23% of Rigel Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RIGL. China Universal Asset Management Co. Ltd. bought a new position in shares of Rigel Pharmaceuticals during the 4th quarter worth about $63,000. Wells Fargo & Company MN boosted its position in shares of Rigel Pharmaceuticals by 44.5% during the 4th quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company's stock worth $145,000 after purchasing an additional 2,648 shares in the last quarter. SG Americas Securities LLC boosted 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 worth $159,000 after purchasing an additional 2,827 shares in the last quarter. Graham Capital Management L.P. bought a new position in shares of Rigel Pharmaceuticals during the 4th quarter worth about $170,000. Finally, Integrated Quantitative Investments LLC bought a new position in shares of Rigel Pharmaceuticals during the 4th quarter worth about $181,000. Institutional investors own 66.23% of the company's stock.

Analyst Ratings Changes

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

Rigel Pharmaceuticals Trading Up 2.5%

Shares of RIGL stock traded up $0.52 during trading hours on Friday, hitting $21.49. 182,000 shares of the company were exchanged, compared to its average volume of 220,041. The firm has a fifty day simple moving average of $18.61 and a 200 day simple moving average of $19.94. Rigel Pharmaceuticals, Inc. has a 52-week low of $7.48 and a 52-week high of $29.82. The stock has a market capitalization of $384.07 million, a price-to-earnings ratio of 153.51 and a beta of 1.34.

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

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.