30,435 Shares in Rigel Pharmaceuticals, Inc. $RIGL Purchased by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC bought a new stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 30,435 shares of the biotechnology company’s stock, valued at approximately $1,465,000. Knights of Columbus Asset Advisors LLC owned approximately 0.16% of Rigel Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of RIGL. Signature Equity Partners LLC acquired a new stake in Rigel Pharmaceuticals during the 3rd quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Rigel Pharmaceuticals during the 3rd quarter worth about $46,000. State of Wyoming acquired a new stake in shares of Rigel Pharmaceuticals in the 3rd quarter valued at about $333,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Rigel Pharmaceuticals by 15.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,408 shares of the biotechnology company’s stock valued at $167,000 after purchasing an additional 463 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Rigel Pharmaceuticals by 180.0% in the third quarter. Signaturefd LLC now owns 826 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 531 shares in the last quarter. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Price Performance

RIGL stock opened at $45.69 on Friday. The stock has a market capitalization of $860.34 million, a price-to-earnings ratio of 2.95 and a beta of 1.28. The business’s fifty day moving average price is $47.52 and its two-hundred day moving average price is $37.61. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $24.95 and a fifty-two week high of $52.60.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.27). The company had revenue of $80.89 million during the quarter, compared to analyst estimates of $80.00 million. Rigel Pharmaceuticals had a net margin of 106.59% and a return on equity of 14.89%. Research analysts expect that Rigel Pharmaceuticals, Inc. will post 2.97 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RIGL shares. Weiss Ratings cut Rigel Pharmaceuticals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Cantor Fitzgerald boosted their target price on Rigel Pharmaceuticals from $43.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, November 6th. Citigroup upped their price target on Rigel Pharmaceuticals from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday. Piper Sandler reiterated a “neutral” rating and issued a $49.00 price objective (up from $40.00) on shares of Rigel Pharmaceuticals in a report on Monday, August 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $85.00 price objective on shares of Rigel Pharmaceuticals in a research report on Monday, October 19th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $66.75.

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.