Rigel Pharmaceuticals, Inc. $RIGL Shares Bought by Squarepoint Ops LLC

Squarepoint Ops LLC lifted its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 64.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,215 shares of the biotechnology company’s stock after purchasing an additional 14,135 shares during the quarter. Squarepoint Ops LLC’s holdings in Rigel Pharmaceuticals were worth $678,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RIGL. Armistice Capital LLC increased its stake in Rigel Pharmaceuticals by 31.6% during the 1st quarter. Armistice Capital LLC now owns 1,516,000 shares of the biotechnology company’s stock valued at $27,273,000 after buying an additional 364,000 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Rigel Pharmaceuticals by 50.1% in the first quarter. Acadian Asset Management LLC now owns 565,045 shares of the biotechnology company’s stock valued at $10,161,000 after acquiring an additional 188,679 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Rigel Pharmaceuticals by 74.2% during the second quarter. Marshall Wace LLP now owns 368,950 shares of the biotechnology company’s stock valued at $6,910,000 after acquiring an additional 157,202 shares during the period. Invesco Ltd. bought a new stake in Rigel Pharmaceuticals during the first quarter worth approximately $2,412,000. Finally, Globeflex Capital L P raised its holdings in Rigel Pharmaceuticals by 220.3% during the second quarter. Globeflex Capital L P now owns 167,515 shares of the biotechnology company’s stock worth $3,138,000 after purchasing an additional 115,220 shares in the last quarter. Institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Performance

Shares of NASDAQ RIGL opened at $43.94 on Wednesday. The stock’s fifty day simple moving average is $39.27 and its 200 day simple moving average is $31.94. The stock has a market capitalization of $797.51 million, a price-to-earnings ratio of 7.12 and a beta of 1.11. The company has a quick ratio of 2.14, a current ratio of 2.28 and a debt-to-equity ratio of 0.25. Rigel Pharmaceuticals, Inc. has a 52-week low of $14.63 and a 52-week high of $52.24.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.53. The business had revenue of $69.46 million during the quarter, compared to analyst estimates of $61.88 million. Rigel Pharmaceuticals had a return on equity of 204.70% and a net margin of 40.17%. As a group, sell-side analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RIGL shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research note on Wednesday, October 8th. Wall Street Zen raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday. Zacks Research cut shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Finally, Jefferies Financial Group upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price objective for the company from $23.00 to $42.00 in a research report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Rigel Pharmaceuticals currently has an average rating of “Hold” and an average target price of $43.20.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.

Rigel’s lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).