Armistice Capital LLC Buys 112,000 Shares of Rigel Pharmaceuticals, Inc. $RIGL

Armistice Capital LLC boosted its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 836,000 shares of the biotechnology company’s stock after purchasing an additional 112,000 shares during the period. Armistice Capital LLC owned about 4.61% of Rigel Pharmaceuticals worth $35,806,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of RIGL. State Street Corp lifted its position in shares of Rigel Pharmaceuticals by 96.9% during the 4th quarter. State Street Corp now owns 1,091,223 shares of the biotechnology company’s stock valued at $46,737,000 after buying an additional 536,905 shares during the last quarter. Marshall Wace LLP lifted its holdings in Rigel Pharmaceuticals by 2.0% during the fourth quarter. Marshall Wace LLP now owns 613,600 shares of the biotechnology company’s stock valued at $26,280,000 after purchasing an additional 12,267 shares during the last quarter. LSV Asset Management boosted its position in Rigel Pharmaceuticals by 390.8% during the fourth quarter. LSV Asset Management now owns 544,282 shares of the biotechnology company’s stock worth $23,312,000 after purchasing an additional 433,382 shares during the period. Renaissance Technologies LLC boosted its position in Rigel Pharmaceuticals by 13.7% during the fourth quarter. Renaissance Technologies LLC now owns 539,009 shares of the biotechnology company’s stock worth $23,086,000 after purchasing an additional 64,800 shares during the period. Finally, Qube Research & Technologies Ltd raised its position in shares of Rigel Pharmaceuticals by 110.6% in the third quarter. Qube Research & Technologies Ltd now owns 360,966 shares of the biotechnology company’s stock valued at $10,226,000 after purchasing an additional 189,542 shares during the period. 66.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rigel Pharmaceuticals

In related news, Director Kamil Ali-Jackson sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $29.17, for a total value of $72,925.00. Following the completion of the transaction, the director directly owned 12,625 shares in the company, valued at approximately $368,271.25. The trade was a 16.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.47% of the company’s stock.

Rigel Pharmaceuticals Price Performance

NASDAQ:RIGL opened at $33.37 on Thursday. Rigel Pharmaceuticals, Inc. has a 52-week low of $18.14 and a 52-week high of $52.24. The stock has a fifty day moving average of $30.11 and a 200 day moving average of $34.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.48 and a current ratio of 2.62. The firm has a market capitalization of $617.35 million, a price-to-earnings ratio of 1.78 and a beta of 1.20.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.36). The business had revenue of $58.82 million during the quarter, compared to analysts’ expectations of $62.40 million. Rigel Pharmaceuticals had a net margin of 121.50% and a return on equity of 47.99%. On average, research analysts expect that Rigel Pharmaceuticals, Inc. will post 3.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on RIGL. Zacks Research downgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Citigroup restated a “buy” rating and set a $81.00 target price (up from $69.00) on shares of Rigel Pharmaceuticals in a research report on Wednesday, May 13th. Wall Street Zen lowered Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. HC Wainwright restated a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research note on Tuesday, June 2nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $54.50.

Rigel Pharmaceuticals Profile

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).