Hillsdale Investment Management Inc. Purchases 22,330 Shares of Rigel Pharmaceuticals, Inc. $RIGL

Hillsdale Investment Management Inc. increased its position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 284,394 shares of the biotechnology company’s stock after purchasing an additional 22,330 shares during the period. Hillsdale Investment Management Inc.’s holdings in Rigel Pharmaceuticals were worth $8,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Armistice Capital LLC increased its position in Rigel Pharmaceuticals by 5.5% during the 2nd quarter. Armistice Capital LLC now owns 1,600,000 shares of the biotechnology company’s stock worth $29,968,000 after buying an additional 84,000 shares during the period. Acadian Asset Management LLC grew its stake in shares of Rigel Pharmaceuticals by 10.3% in the second quarter. Acadian Asset Management LLC now owns 623,004 shares of the biotechnology company’s stock valued at $11,664,000 after acquiring an additional 57,959 shares in the last quarter. Geode Capital Management LLC increased its position in Rigel Pharmaceuticals by 1.1% during the second quarter. Geode Capital Management LLC now owns 415,607 shares of the biotechnology company’s stock worth $7,786,000 after acquiring an additional 4,439 shares during the period. Marshall Wace LLP raised its stake in Rigel Pharmaceuticals by 74.2% in the 2nd quarter. Marshall Wace LLP now owns 368,950 shares of the biotechnology company’s stock worth $6,910,000 after purchasing an additional 157,202 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Rigel Pharmaceuticals by 41.7% in the 2nd quarter. Bank of America Corp DE now owns 187,621 shares of the biotechnology company’s stock valued at $3,514,000 after purchasing an additional 55,184 shares during the period. 66.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on RIGL shares. Cantor Fitzgerald raised their target price on shares of Rigel Pharmaceuticals from $32.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Wall Street Zen raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Citigroup reaffirmed a “buy” rating on shares of Rigel Pharmaceuticals in a report on Wednesday, January 14th. Jefferies Financial Group upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the company from $23.00 to $42.00 in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Rigel Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $43.20.

Rigel Pharmaceuticals Price Performance

Shares of RIGL stock opened at $35.46 on Friday. The business has a fifty day simple moving average of $38.89 and a 200 day simple moving average of $37.30. The company has a market cap of $643.60 million, a P/E ratio of 5.75 and a beta of 1.11. The company has a quick ratio of 2.14, a current ratio of 2.28 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.

Rigel Pharmaceuticals Company Profile

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).