Wells Fargo & Company MN raised its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 68.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,103 shares of the biotechnology company’s stock after buying an additional 45,600 shares during the period. Wells Fargo & Company MN owned 0.09% of Rigel Pharmaceuticals worth $371,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its position in Rigel Pharmaceuticals by 4.6% in the fourth quarter. FMR LLC now owns 14,833,279 shares of the biotechnology company’s stock worth $35,303,000 after buying an additional 652,133 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in Rigel Pharmaceuticals by 76.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 1,085,000 shares of the biotechnology company’s stock worth $3,592,000 after buying an additional 470,000 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Rigel Pharmaceuticals during the fourth quarter worth approximately $459,000. State Street Corp raised its position in Rigel Pharmaceuticals by 7.1% in the fourth quarter. State Street Corp now owns 1,712,369 shares of the biotechnology company’s stock worth $4,070,000 after buying an additional 112,796 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in Rigel Pharmaceuticals by 26.0% in the fourth quarter. Teachers Advisors LLC now owns 213,368 shares of the biotechnology company’s stock worth $508,000 after buying an additional 43,965 shares in the last quarter. 89.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rigel Pharmaceuticals, Inc. (NASDAQ RIGL) opened at 2.47 on Friday. The firm’s market capitalization is $302.41 million. Rigel Pharmaceuticals, Inc. has a 52 week low of $1.94 and a 52 week high of $4.38. The firm’s 50-day moving average is $2.56 and its 200-day moving average is $2.63.
Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 96.24%. The company had revenue of $3.58 million for the quarter, compared to the consensus estimate of $4.30 million. During the same quarter in the prior year, the company earned ($0.19) earnings per share. Equities analysts anticipate that Rigel Pharmaceuticals, Inc. will post ($0.54) EPS for the current year.
RIGL has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research report on Tuesday, May 2nd. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Rigel Pharmaceuticals in a research note on Wednesday, May 3rd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $5.00 price objective (up from $4.00) on shares of Rigel Pharmaceuticals in a research note on Monday, June 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $5.88.
About Rigel Pharmaceuticals
Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.
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