Pacer Advisors Inc. Purchases 48,882 Shares of Rigel Pharmaceuticals, Inc. $RIGL

Pacer Advisors Inc. boosted its holdings in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 74.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 114,386 shares of the biotechnology company’s stock after buying an additional 48,882 shares during the period. Pacer Advisors Inc.’s holdings in Rigel Pharmaceuticals were worth $3,093,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RIGL. IFP Advisors Inc increased its stake in Rigel Pharmaceuticals by 21.8% in the 4th quarter. IFP Advisors Inc now owns 2,264 shares of the biotechnology company’s stock worth $97,000 after acquiring an additional 405 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Rigel Pharmaceuticals by 1.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 28,803 shares of the biotechnology company’s stock valued at $779,000 after acquiring an additional 546 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Rigel Pharmaceuticals by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 27,065 shares of the biotechnology company’s stock valued at $507,000 after acquiring an additional 555 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Rigel Pharmaceuticals by 4.0% during the fourth quarter. Deutsche Bank AG now owns 14,655 shares of the biotechnology company’s stock worth $628,000 after purchasing an additional 570 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of Rigel Pharmaceuticals by 4.6% during the first quarter. Quantinno Capital Management LP now owns 12,967 shares of the biotechnology company’s stock worth $351,000 after purchasing an additional 576 shares in the last quarter. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals Stock Down 3.1%

Shares of RIGL stock opened at $39.22 on Friday. The business has a 50-day moving average price of $36.68 and a two-hundred day moving average price of $32.98. Rigel Pharmaceuticals, Inc. has a 12-month low of $24.95 and a 12-month high of $52.24. The firm has a market cap of $725.57 million, a P/E ratio of 2.40 and a beta of 1.16.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.09 by $0.79. The firm had revenue of $78.70 million for the quarter, compared to analyst estimates of $55.27 million. Rigel Pharmaceuticals had a return on equity of 22.95% and a net margin of 116.30%. As a group, research analysts expect that Rigel Pharmaceuticals, Inc. will post 3.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RIGL has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. HC Wainwright reiterated a “buy” rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Tuesday, June 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research note on Friday, July 17th. Finally, Citigroup reissued a “buy” rating on shares of Rigel Pharmaceuticals in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.50.

Insider Transactions at Rigel Pharmaceuticals

In other Rigel Pharmaceuticals news, Director Kamil Ali-Jackson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $35.00, for a total value of $87,500.00. Following the completion of the sale, the director owned 10,125 shares of the company’s stock, valued at $354,375. This represents a 19.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 10.47% of the stock is currently owned by corporate insiders.

Rigel Pharmaceuticals Company 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).