Deutsche Bank AG Increases Holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Deutsche Bank AG boosted its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 100.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,744 shares of the biotechnology company’s stock after buying an additional 6,890 shares during the quarter. Deutsche Bank AG owned approximately 0.08% of Rigel Pharmaceuticals worth $231,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RIGL. China Universal Asset Management Co. Ltd. purchased a new position in shares of Rigel Pharmaceuticals during the 4th quarter worth $63,000. Wells Fargo & Company MN lifted its stake in shares of 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 purchasing an additional 2,648 shares during the period. SG Americas Securities LLC lifted its stake in shares of 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 purchasing an additional 2,827 shares during the period. Integrated Quantitative Investments LLC purchased a new position in shares of Rigel Pharmaceuticals during the 4th quarter worth $181,000. Finally, XTX Topco Ltd purchased a new position in shares of Rigel Pharmaceuticals during the 4th quarter worth $184,000. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Price Performance

Shares of Rigel Pharmaceuticals stock opened at $19.30 on Monday. The business has a 50-day moving average of $18.35 and a 200-day moving average of $19.98. The company has a market capitalization of $344.93 million, a PE ratio of 137.87 and a beta of 1.34. Rigel Pharmaceuticals, Inc. has a 1-year low of $7.48 and a 1-year high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 earnings per share for the quarter, beating 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 period last year, the firm earned ($0.50) earnings per share. On average, equities analysts expect that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RIGL. Cantor Fitzgerald upped their price objective on Rigel Pharmaceuticals from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. HC Wainwright reiterated a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. B. Riley increased their target price on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 5th. Citigroup increased their target price on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Wall Street Zen lowered Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Rigel Pharmaceuticals presently has a consensus 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.