Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 58.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,602 shares of the biotechnology company’s stock after selling 9,297 shares during the quarter. SG Americas Securities LLC’s holdings in Rigel Pharmaceuticals were worth $107,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Rigel Pharmaceuticals by 4.6% during the first quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company’s stock worth $13,864,000 after buying an additional 414,207 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Rigel Pharmaceuticals by 18.2% in the 1st quarter. Acadian Asset Management LLC now owns 5,465,183 shares of the biotechnology company’s stock worth $8,086,000 after acquiring an additional 843,419 shares during the last quarter. CM Management LLC boosted its position in shares of Rigel Pharmaceuticals by 17.6% during the 1st quarter. CM Management LLC now owns 2,000,000 shares of the biotechnology company’s stock worth $2,960,000 after purchasing an additional 300,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Rigel Pharmaceuticals in the 1st quarter valued at approximately $2,012,000. Finally, BNP Paribas Financial Markets raised its position in Rigel Pharmaceuticals by 24.2% in the first quarter. BNP Paribas Financial Markets now owns 252,955 shares of the biotechnology company’s stock valued at $374,000 after purchasing an additional 49,223 shares during the period. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals Trading Down 1.9 %

Rigel Pharmaceuticals stock opened at $14.16 on Monday. The firm has a market capitalization of $248.62 million, a P/E ratio of -11.80 and a beta of 0.94. Rigel Pharmaceuticals, Inc. has a twelve month low of $7.21 and a twelve month high of $17.30. The stock’s fifty day simple moving average is $14.31 and its 200-day simple moving average is $11.54.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.31. The company had revenue of $36.84 million during the quarter, compared to analyst estimates of $32.38 million. During the same period in the prior year, the business earned ($0.40) EPS. Sell-side analysts predict that Rigel Pharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com upgraded Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. Cantor Fitzgerald reissued a “neutral” rating and set a $15.00 target price on shares of Rigel Pharmaceuticals in a research note on Friday, September 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Friday. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Rigel Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $31.13.

Rigel Pharmaceuticals Profile

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.