Teacher Retirement System of Texas Acquires 3,310 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Teacher Retirement System of Texas boosted its holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 17.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,354 shares of the biotechnology company’s stock after purchasing an additional 3,310 shares during the quarter. Teacher Retirement System of Texas’ holdings in Rigel Pharmaceuticals were worth $97,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RIGL. BNP Paribas Arbitrage SA increased its holdings in shares of Rigel Pharmaceuticals by 91.2% during the first quarter. BNP Paribas Arbitrage SA now owns 39,470 shares of the biotechnology company’s stock valued at $135,000 after acquiring an additional 18,829 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Rigel Pharmaceuticals by 0.6% during the first quarter. BlackRock Inc. now owns 17,603,163 shares of the biotechnology company’s stock valued at $60,203,000 after acquiring an additional 109,743 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Rigel Pharmaceuticals during the first quarter valued at approximately $55,000. Rafferty Asset Management LLC increased its holdings in shares of Rigel Pharmaceuticals by 602.3% during the first quarter. Rafferty Asset Management LLC now owns 625,432 shares of the biotechnology company’s stock valued at $2,139,000 after acquiring an additional 536,372 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Rigel Pharmaceuticals during the first quarter worth $16,608,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

RIGL stock opened at $3.72 on Tuesday. The stock’s fifty day simple moving average is $3.92 and its two-hundred day simple moving average is $3.86. The company has a current ratio of 3.09, a quick ratio of 2.98 and a debt-to-equity ratio of 0.29. Rigel Pharmaceuticals, Inc. has a 1-year low of $2.17 and a 1-year high of $5.50. The stock has a market cap of $635.56 million, a P/E ratio of -74.40 and a beta of 1.55.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Tuesday, August 3rd. The biotechnology company reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. Rigel Pharmaceuticals had a negative return on equity of 13.37% and a negative net margin of 5.36%. The business had revenue of $26.27 million for the quarter, compared to analysts’ expectations of $22.08 million. As a group, analysts forecast that Rigel Pharmaceuticals, Inc. will post -0.05 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on RIGL shares. Zacks Investment Research upgraded Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, July 8th. HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of Rigel Pharmaceuticals in a report on Tuesday, June 29th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Rigel Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $7.50.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc operates as a clinical stage biotechnology company. It discovers and develops novel, targeted drugs in the therapeutic areas of immunology, oncology and immune oncology. The firm focuses on intracellular signalling pathways and related targets that are critical to disease mechanisms.

Featured Article: Growth and Income Funds

Want to see what other hedge funds are holding RIGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL).

Institutional Ownership by Quarter for Rigel Pharmaceuticals (NASDAQ:RIGL)

Receive News & Ratings for Rigel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.