Knights of Columbus Asset Advisors LLC Makes New Investment in Rigel Pharmaceuticals, Inc. $RIGL

Knights of Columbus Asset Advisors LLC bought a new position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) during the third quarter, Holdings Channel reports. The firm bought 30,435 shares of the biotechnology company’s stock, valued at approximately $1,465,000.

Several other large investors have also added to or reduced their stakes in the business. Signature Equity Partners LLC bought a new stake in Rigel Pharmaceuticals in the 3rd quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Rigel Pharmaceuticals during the 3rd quarter worth approximately $46,000. State of Wyoming bought a new position in shares of Rigel Pharmaceuticals during the 3rd quarter worth approximately $333,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Rigel Pharmaceuticals by 15.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,408 shares of the biotechnology company’s stock worth $167,000 after buying an additional 463 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Rigel Pharmaceuticals by 180.0% during the third quarter. Signaturefd LLC now owns 826 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 531 shares during the period. Institutional investors own 66.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RIGL shares. Weiss Ratings downgraded Rigel Pharmaceuticals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Piper Sandler reiterated a “neutral” rating and set a $49.00 target price (up from $40.00) on shares of Rigel Pharmaceuticals in a research note on Monday, August 17th. Citigroup boosted their price target on shares of Rigel Pharmaceuticals from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Monday. Zacks Research lowered shares of Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. Finally, HC Wainwright restated a “buy” rating and set a $85.00 price objective on shares of Rigel Pharmaceuticals in a report on Monday, October 19th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $66.75.

Rigel Pharmaceuticals Stock Performance

Shares of RIGL opened at $45.69 on Friday. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $24.95 and a fifty-two week high of $52.60. The business has a 50-day moving average of $47.52 and a 200 day moving average of $37.61. The firm has a market cap of $860.34 million, a P/E ratio of 2.95 and a beta of 1.28.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings data on Thursday, November 5th. The biotechnology company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.27). The business had revenue of $80.89 million for the quarter, compared to analysts’ expectations of $80.00 million. Rigel Pharmaceuticals had a net margin of 106.59% and a return on equity of 14.89%. As a group, research analysts predict that Rigel Pharmaceuticals, Inc. will post 2.97 earnings per share for the current fiscal year.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc. is a biotechnology company that discovers, develops and commercializes medicines for people with serious hematologic disorders and cancers. Founded in 1996 and based in South San Francisco, California, the company has focused on treatments that target biological pathways involved in disease. Rigel’s marketed products include Tavalisse (fostamatinib), an oral treatment for adults with chronic immune thrombocytopenia who have had an insufficient response to prior treatment, and Rezlidhia (olutasidenib), an oral therapy for certain adults with relapsed or refractory acute myeloid leukemia containing an IDH1 mutation.