Rigel Pharmaceuticals, Inc. $RIGL Stock Holdings Lessened by CenterBook Partners LP

CenterBook Partners LP reduced its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 93.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,801 shares of the biotechnology company’s stock after selling 102,774 shares during the period. CenterBook Partners LP’s holdings in Rigel Pharmaceuticals were worth $327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RIGL. BlackRock Inc. bought a new position in shares of Rigel Pharmaceuticals during the second quarter valued at $75,886,000. Assenagon Asset Management S.A. bought a new stake in shares of Rigel Pharmaceuticals in the 3rd quarter worth about $25,793,000. Dimensional Fund Advisors LP lifted its holdings in Rigel Pharmaceuticals by 37.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 379,541 shares of the biotechnology company’s stock valued at $10,259,000 after purchasing an additional 102,729 shares during the last quarter. Bank of America Corp DE lifted its holdings in Rigel Pharmaceuticals by 23.2% during the 1st quarter. Bank of America Corp DE now owns 144,131 shares of the biotechnology company’s stock valued at $3,897,000 after purchasing an additional 27,179 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Rigel Pharmaceuticals by 275.2% during the 1st quarter. Janus Henderson Group PLC now owns 135,877 shares of the biotechnology company’s stock valued at $3,674,000 after purchasing an additional 99,659 shares during the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Stock Down 2.7%

RIGL stock opened at $44.46 on Friday. The business’s fifty day moving average is $47.44 and its 200-day moving average is $37.64. The company has a market cap of $837.18 million, a P/E ratio of 2.87 and a beta of 1.28. Rigel Pharmaceuticals, Inc. has a twelve month low of $24.95 and a twelve month high of $52.60.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $49.00 price objective (up from $40.00) on shares of Rigel Pharmaceuticals in a report on Monday, August 17th. Citigroup raised their price target on Rigel Pharmaceuticals from $83.00 to $86.00 and gave the company a “buy” rating in a report on Monday, November 9th. Zacks Research downgraded Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. Weiss Ratings lowered Rigel Pharmaceuticals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Finally, HC Wainwright restated a “buy” rating and set a $85.00 target price on shares of Rigel Pharmaceuticals in a report on Monday, October 19th. Three 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. According to data from MarketBeat.com, the company presently 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.