Rigel Pharmaceuticals, Inc. $RIGL Shares Purchased by LSV Asset Management

LSV Asset Management increased its holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 15.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 110,900 shares of the biotechnology company’s stock after purchasing an additional 15,200 shares during the quarter. LSV Asset Management’s holdings in Rigel Pharmaceuticals were worth $3,142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AlphaQuest LLC lifted its stake in shares of Rigel Pharmaceuticals by 234.8% in the 3rd quarter. AlphaQuest LLC now owns 1,105 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 775 shares during the last quarter. Laurel Wealth Advisors LLC lifted its position in Rigel Pharmaceuticals by 1,773.3% in the second quarter. Laurel Wealth Advisors LLC now owns 2,810 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 2,660 shares during the last quarter. Legal & General Group Plc lifted its position in Rigel Pharmaceuticals by 130.7% in the second quarter. Legal & General Group Plc now owns 4,310 shares of the biotechnology company’s stock valued at $81,000 after buying an additional 2,442 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Rigel Pharmaceuticals during the second quarter worth about $178,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Rigel Pharmaceuticals during the first quarter valued at about $191,000. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Up 0.3%

Rigel Pharmaceuticals stock opened at $34.32 on Monday. The firm has a market capitalization of $622.91 million, a P/E ratio of 5.56 and a beta of 1.11. The company has a current ratio of 2.28, a quick ratio of 2.14 and a debt-to-equity ratio of 0.25. Rigel Pharmaceuticals, Inc. has a twelve month low of $15.50 and a twelve month high of $52.24. The stock’s fifty day simple moving average is $39.53 and its 200-day simple moving average is $37.04.

Analysts Set New Price Targets

Several equities analysts have recently commented on RIGL shares. Zacks Research lowered shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, January 20th. Citigroup reissued a “buy” rating on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 14th. Cantor Fitzgerald raised their price target on Rigel Pharmaceuticals from $32.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rigel Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $43.20.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.

Rigel’s lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).