Soleus Capital Management L.P. Boosts Stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Soleus Capital Management L.P. boosted its holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 21.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,130,679 shares of the biotechnology company’s stock after acquiring an additional 195,891 shares during the quarter. Rigel Pharmaceuticals comprises approximately 1.2% of Soleus Capital Management L.P.’s portfolio, making the stock its 25th biggest holding. Soleus Capital Management L.P. owned about 6.42% of Rigel Pharmaceuticals worth $19,018,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP acquired a new position in shares of Rigel Pharmaceuticals during the 4th quarter worth $288,000. Barclays PLC boosted its holdings in Rigel Pharmaceuticals by 158.6% during the third quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock worth $442,000 after buying an additional 16,772 shares in the last quarter. JPMorgan Chase & Co. grew its position in Rigel Pharmaceuticals by 45.0% during the third quarter. JPMorgan Chase & Co. now owns 26,238 shares of the biotechnology company’s stock worth $425,000 after buying an additional 8,140 shares during the period. SG Americas Securities LLC increased its holdings in Rigel Pharmaceuticals by 42.8% in the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 2,827 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Rigel Pharmaceuticals by 15.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 86,001 shares of the biotechnology company’s stock valued at $1,447,000 after buying an additional 11,499 shares in the last quarter. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on RIGL shares. StockNews.com lowered Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 8th. HC Wainwright reiterated a “buy” rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 5th. Citigroup upped their target price on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, March 6th. B. Riley lifted their price target on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald boosted their price objective on shares of Rigel Pharmaceuticals from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.40.

Rigel Pharmaceuticals Stock Performance

RIGL stock opened at $19.83 on Monday. The stock’s 50 day moving average price is $18.47 and its 200 day moving average price is $20.03. The firm has a market cap of $354.40 million, a P/E ratio of 141.65 and a beta of 1.34. Rigel Pharmaceuticals, Inc. has a 1 year low of $7.48 and a 1 year high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.49. The business had revenue of $53.33 million for the quarter, compared to the consensus estimate of $43.87 million. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. During the same period in the prior year, the business earned ($0.50) earnings per share. On average, research analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

About Rigel Pharmaceuticals

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.