Rigel Pharmaceuticals, Inc. $RIGL Shares Bought by LSV Asset Management

LSV Asset Management grew its holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 15.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,900 shares of the biotechnology company’s stock after buying an additional 15,200 shares during the quarter. LSV Asset Management owned 0.62% of Rigel Pharmaceuticals worth $3,142,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Armistice Capital LLC increased its holdings in Rigel Pharmaceuticals by 5.5% in the 2nd quarter. Armistice Capital LLC now owns 1,600,000 shares of the biotechnology company’s stock worth $29,968,000 after acquiring an additional 84,000 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Rigel Pharmaceuticals by 10.3% in the second quarter. Acadian Asset Management LLC now owns 623,004 shares of the biotechnology company’s stock valued at $11,664,000 after purchasing an additional 57,959 shares during the period. Geode Capital Management LLC increased its stake in shares of Rigel Pharmaceuticals by 1.1% during the second quarter. Geode Capital Management LLC now owns 415,607 shares of the biotechnology company’s stock worth $7,786,000 after purchasing an additional 4,439 shares in the last quarter. Marshall Wace LLP raised its position in shares of Rigel Pharmaceuticals by 74.2% during the 2nd quarter. Marshall Wace LLP now owns 368,950 shares of the biotechnology company’s stock worth $6,910,000 after purchasing an additional 157,202 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in Rigel Pharmaceuticals by 36.4% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 262,064 shares of the biotechnology company’s stock valued at $4,908,000 after buying an additional 69,900 shares in the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on RIGL. Jefferies Financial Group upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $42.00 in a research note on Wednesday, November 5th. Zacks Research lowered Rigel Pharmaceuticals from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Wall Street Zen raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Citigroup restated a “buy” rating on shares of Rigel Pharmaceuticals in a report on Wednesday, January 14th. Finally, Cantor Fitzgerald upped their target price on shares of Rigel Pharmaceuticals from $32.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.20.

Rigel Pharmaceuticals Stock Performance

NASDAQ RIGL opened at $34.32 on Monday. The stock’s fifty day moving average is $39.53 and its two-hundred day moving average is $37.04. The firm has a market capitalization of $622.91 million, a P/E ratio of 5.56 and a beta of 1.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.14 and a current ratio of 2.28. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $15.50 and a fifty-two week high of $52.24.

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).