115,218 Shares in Rigel Pharmaceuticals, Inc. $RIGL Bought by Nuveen LLC

Nuveen LLC purchased a new stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 115,218 shares of the biotechnology company’s stock, valued at approximately $2,073,000. Nuveen LLC owned 0.64% of Rigel Pharmaceuticals as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RIGL. Invesco Ltd. purchased a new position in shares of Rigel Pharmaceuticals in the first quarter valued at about $2,412,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Rigel Pharmaceuticals by 13.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 157,924 shares of the biotechnology company’s stock worth $2,841,000 after purchasing an additional 18,796 shares during the last quarter. CM Management LLC increased its holdings in Rigel Pharmaceuticals by 3.1% during the 1st quarter. CM Management LLC now owns 250,000 shares of the biotechnology company’s stock valued at $4,498,000 after purchasing an additional 7,500 shares during the period. Vanguard Group Inc. lifted its holdings in Rigel Pharmaceuticals by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,028,072 shares of the biotechnology company’s stock worth $18,495,000 after buying an additional 15,141 shares during the period. Finally, US Bancorp DE lifted its holdings in Rigel Pharmaceuticals by 57.4% in the 1st quarter. US Bancorp DE now owns 5,120 shares of the biotechnology company’s stock worth $92,000 after buying an additional 1,868 shares during the period. Institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Down 1.2%

Shares of NASDAQ:RIGL opened at $38.85 on Friday. The firm has a market capitalization of $696.97 million, a P/E ratio of 7.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.02. The stock has a 50 day moving average price of $26.17 and a 200-day moving average price of $21.77. Rigel Pharmaceuticals, Inc. has a 52-week low of $12.66 and a 52-week high of $43.72.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, August 5th. The biotechnology company reported $3.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $1.31. Rigel Pharmaceuticals had a net margin of 36.51% and a return on equity of 438.89%. The business had revenue of $101.69 million during the quarter, compared to the consensus estimate of $64.58 million. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald upped their target price on Rigel Pharmaceuticals from $23.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Rigel Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $38.20.

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.