California Public Employees Retirement System maintained its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) during the first quarter, Holdings Channel reports. The firm owned 881,500 shares of the biotechnology company’s stock at the end of the first quarter. California Public Employees Retirement System’s holdings in Rigel Pharmaceuticals were worth $2,918,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RIGL. FMR LLC increased its position in Rigel Pharmaceuticals by 4.6% in the fourth quarter. FMR LLC now owns 14,833,279 shares of the biotechnology company’s stock worth $35,303,000 after buying an additional 652,133 shares during the period. Russell Investments Group Ltd. purchased a new position in Rigel Pharmaceuticals during the fourth quarter worth approximately $459,000. State Street Corp increased its position in Rigel Pharmaceuticals by 7.1% in the fourth quarter. State Street Corp now owns 1,712,369 shares of the biotechnology company’s stock worth $4,070,000 after buying an additional 112,796 shares during the period. Candriam Luxembourg S.C.A. increased its position in Rigel Pharmaceuticals by 76.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 1,085,000 shares of the biotechnology company’s stock worth $3,592,000 after buying an additional 470,000 shares during the period. Finally, Teachers Advisors LLC increased its position in Rigel Pharmaceuticals by 26.0% in the fourth quarter. Teachers Advisors LLC now owns 213,368 shares of the biotechnology company’s stock worth $508,000 after buying an additional 43,965 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Rigel Pharmaceuticals, Inc. (RIGL) opened at 2.61 on Monday. The firm has a 50-day moving average of $2.60 and a 200-day moving average of $2.64. The company’s market cap is $319.55 million. Rigel Pharmaceuticals, Inc. has a one year low of $1.94 and a one year high of $4.38.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.01. The business had revenue of $3.58 million during the quarter, compared to the consensus estimate of $4.30 million. Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 96.24%. During the same period in the previous year, the firm earned ($0.19) EPS. On average, analysts predict that Rigel Pharmaceuticals, Inc. will post ($0.53) EPS for the current year.

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A number of equities analysts recently commented on RIGL shares. Zacks Investment Research upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research note on Tuesday, May 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $5.00 price target (up from $4.00) on shares of Rigel Pharmaceuticals in a research note on Monday, June 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Rigel Pharmaceuticals in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $5.88.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

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

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