Carrera Capital Advisors Acquires Shares of 50,299 Rigel Pharmaceuticals, Inc. $RIGL

Carrera Capital Advisors acquired a new stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in the second quarter, HoldingsChannel.com reports. The firm acquired 50,299 shares of the biotechnology company’s stock, valued at approximately $942,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Virtus Advisers LLC acquired a new stake in shares of Rigel Pharmaceuticals in the first quarter valued at $40,000. RMG Wealth Management LLC acquired a new stake in shares of Rigel Pharmaceuticals in the second quarter valued at $41,000. US Bancorp DE increased its stake in shares of Rigel Pharmaceuticals by 57.4% in the first quarter. US Bancorp DE now owns 5,120 shares of the biotechnology company’s stock valued at $92,000 after buying an additional 1,868 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Rigel Pharmaceuticals by 65.9% in the first quarter. New York State Common Retirement Fund now owns 5,536 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 2,200 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Rigel Pharmaceuticals in the first quarter valued at $191,000. 66.23% of the stock is owned by institutional investors.

Rigel Pharmaceuticals Price Performance

Rigel Pharmaceuticals stock opened at $29.97 on Friday. The firm has a market capitalization of $537.66 million, a P/E ratio of 5.54 and a beta of 1.20. Rigel Pharmaceuticals, Inc. has a 1 year low of $13.57 and a 1 year high of $43.72. The business has a 50-day moving average of $33.96 and a 200-day moving average of $25.17. The company has a current ratio of 2.02, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its earnings results on Tuesday, August 5th. The biotechnology company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $1.31. Rigel Pharmaceuticals had a return on equity of 438.89% and a net margin of 36.51%.The company had revenue of $101.69 million during the quarter, compared to analyst estimates of $64.58 million. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on RIGL shares. Zacks Research lowered Rigel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald lifted their price objective on Rigel Pharmaceuticals from $23.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.20.

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.