Voya Investment Management LLC Sells 22,411 Shares of Rigel Pharmaceuticals, Inc. $RIGL

Key Points

• Voya Investment Management LLC reduced its stake in Rigel Pharmaceuticals by 20.6%, selling 22,411 shares and owning 86,176 shares worth approximately $1.55 million.
• Rigel Pharmaceuticals reported an impressive quarterly earnings per share (EPS) of $3.28, significantly exceeding analysts' expectations of $1.97, and generated $101.69 million in revenue for the quarter.
• Analysts have given Rigel Pharmaceuticals an average target price of $38.20, with Cantor Fitzgerald recently raising their price target from $23.00 to $32.00, maintaining a "neutral" rating.

Voya Investment Management LLC decreased its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 20.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,176 shares of the biotechnology company's stock after selling 22,411 shares during the period. Voya Investment Management LLC owned about 0.48% of Rigel Pharmaceuticals worth $1,550,000 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 stock. Rhumbline Advisers lifted its stake in Rigel Pharmaceuticals by 5.4% in the 1st quarter. Rhumbline Advisers now owns 26,510 shares of the biotechnology company's stock valued at $477,000 after purchasing an additional 1,367 shares during the last quarter. Strs Ohio bought a new position in Rigel Pharmaceuticals in the 1st quarter valued at approximately $389,000. Acadian Asset Management LLC lifted its stake in Rigel Pharmaceuticals by 50.1% in the 1st quarter. Acadian Asset Management LLC now owns 565,045 shares of the biotechnology company's stock valued at $10,161,000 after purchasing an additional 188,679 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Rigel Pharmaceuticals in the 1st quarter valued at approximately $488,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Rigel Pharmaceuticals by 14.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,366 shares of the biotechnology company's stock valued at $204,000 after purchasing an additional 1,464 shares during the last quarter. Institutional investors own 66.23% of the company's stock.

Rigel Pharmaceuticals Trading Down 0.8%

NASDAQ:RIGL opened at $34.45 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $618.03 million, a price-to-earnings ratio of 6.37 and a beta of 1.26. The firm has a fifty day simple moving average of $32.08 and a two-hundred day simple moving average of $23.58. Rigel Pharmaceuticals, Inc. has a 12 month low of $13.57 and a 12 month high of $43.72.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The biotechnology company reported $3.28 EPS for the quarter, topping analysts' consensus estimates of $1.97 by $1.31. The business had revenue of $101.69 million during the quarter, compared to analysts' expectations of $64.58 million. Rigel Pharmaceuticals had a net margin of 36.51% and a return on equity of 438.89%. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts expect that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Cantor Fitzgerald upped their price target on shares of Rigel Pharmaceuticals from $23.00 to $32.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $38.20.

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.

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