LSV Asset Management Buys Shares of 95,700 Rigel Pharmaceuticals, Inc. $RIGL

LSV Asset Management bought a new position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 95,700 shares of the biotechnology company’s stock, valued at approximately $1,792,000. LSV Asset Management owned about 0.53% of Rigel Pharmaceuticals at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Virtus Advisers LLC purchased a new position in shares of Rigel Pharmaceuticals during the 1st quarter worth approximately $40,000. RMG Wealth Management LLC acquired a new stake in Rigel Pharmaceuticals during the 2nd quarter valued at $41,000. US Bancorp DE grew its holdings in Rigel Pharmaceuticals by 57.4% during the 1st 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 during the last quarter. New York State Common Retirement Fund increased its position in Rigel Pharmaceuticals by 65.9% during the first quarter. New York State Common Retirement Fund now owns 5,536 shares of the biotechnology company’s stock worth $100,000 after buying an additional 2,200 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Rigel Pharmaceuticals in the first quarter worth $191,000. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Trading Up 5.4%

Shares of RIGL opened at $46.22 on Friday. Rigel Pharmaceuticals, Inc. has a twelve month low of $14.63 and a twelve month high of $47.26. The firm has a market capitalization of $838.94 million, a P/E ratio of 8.54 and a beta of 1.22. The company has a current ratio of 2.02, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $32.82 and its 200 day simple moving average is $27.84.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $1.46 EPS for the quarter, topping the consensus estimate of $0.93 by $0.53. The company had revenue of $69.46 million during the quarter, compared to analyst estimates of $61.88 million. Rigel Pharmaceuticals had a return on equity of 438.89% and a net margin of 36.51%. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RIGL shares. Zacks Research raised Rigel Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a report on Wednesday, October 8th. Wall Street Zen cut shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Cantor Fitzgerald upped their price objective on shares of Rigel Pharmaceuticals from $32.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Finally, HC Wainwright restated a “buy” rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.20.

Rigel Pharmaceuticals Company Profile

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.