17,123 Shares in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP bought a new position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,123 shares of the biotechnology company’s stock, valued at approximately $288,000. Dimensional Fund Advisors LP owned approximately 0.10% of Rigel Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Rigel Pharmaceuticals in the 4th quarter valued at approximately $63,000. Wells Fargo & Company MN increased its position in Rigel Pharmaceuticals by 44.5% during the 4th quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company’s stock worth $145,000 after buying an additional 2,648 shares during the period. SG Americas Securities LLC increased its position in Rigel Pharmaceuticals by 42.8% during the 4th quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock worth $159,000 after buying an additional 2,827 shares during the period. Integrated Quantitative Investments LLC acquired a new position in Rigel Pharmaceuticals in the fourth quarter valued at about $181,000. Finally, XTX Topco Ltd acquired a new position in Rigel Pharmaceuticals in the fourth quarter valued at about $184,000. 66.23% of the stock is owned by institutional investors.

Rigel Pharmaceuticals Price Performance

Shares of NASDAQ:RIGL opened at $19.83 on Friday. The company has a market capitalization of $354.40 million, a PE ratio of 141.65 and a beta of 1.34. The business has a fifty day moving average price of $18.47 and a two-hundred day moving average price of $19.98. Rigel Pharmaceuticals, Inc. has a 1 year low of $7.48 and a 1 year high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.49. The company had revenue of $53.33 million during the quarter, compared to the consensus estimate of $43.87 million. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. During the same quarter in the prior year, the company earned ($0.50) EPS. Sell-side analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RIGL. Cantor Fitzgerald lifted their target price on Rigel Pharmaceuticals from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Citigroup boosted their price target on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. StockNews.com lowered Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 8th. Finally, B. Riley upped their target price on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Rigel Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $36.40.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing therapies that enhance the lives of patients with hematologic disorders and cancer. The company’s commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; Rezlidhia, a non-intensive monotherapy for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer, as well as for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.