Segall Bryant & Hamill LLC Takes $610,000 Position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Segall Bryant & Hamill LLC purchased a new stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 36,259 shares of the biotechnology company's stock, valued at approximately $610,000. Segall Bryant & Hamill LLC owned 0.21% of Rigel Pharmaceuticals as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. acquired a new position in shares of Rigel Pharmaceuticals in the 4th quarter valued at approximately $63,000. SG Americas Securities LLC lifted its stake in Rigel Pharmaceuticals by 42.8% in the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock valued at $159,000 after buying an additional 2,827 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Rigel Pharmaceuticals during the fourth quarter worth $197,000. Franklin Resources Inc. bought a new stake in Rigel Pharmaceuticals in the 3rd quarter valued at $193,000. Finally, Empire Financial Management Company LLC bought a new stake in Rigel Pharmaceuticals in the 3rd quarter valued at $231,000. Institutional investors own 66.23% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RIGL shares. HC Wainwright reiterated a "buy" rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, March 5th. Cantor Fitzgerald lifted their price objective on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Citigroup boosted their price objective on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. StockNews.com lowered shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 8th. Finally, B. Riley increased their price objective on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Rigel Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $36.80.

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Insiders Place Their Bets

In related news, EVP David A. Santos sold 2,125 shares of Rigel Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $44,455.00. Following the completion of the sale, the executive vice president now owns 53,500 shares of the company's stock, valued at approximately $1,119,220. The trade was a 3.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Raul R. Rodriguez sold 4,952 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $103,595.84. Following the completion of the transaction, the chief executive officer now directly owns 243,854 shares in the company, valued at approximately $5,101,425.68. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,113 shares of company stock valued at $190,644 over the last ninety days. 9.04% of the stock is currently owned by company insiders.

Rigel Pharmaceuticals Trading Up 5.4 %

Shares of RIGL traded up $0.92 during midday trading on Wednesday, reaching $18.07. The stock had a trading volume of 60,898 shares, compared to its average volume of 207,212. The firm has a 50 day simple moving average of $20.88 and a 200-day simple moving average of $19.33. Rigel Pharmaceuticals, Inc. has a one year low of $7.48 and a one year high of $29.82. The firm has a market cap of $322.86 million, a PE ratio of 129.33 and a beta of 1.35.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The biotechnology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.50. The company had revenue of $57.60 million during the quarter, compared to analysts' expectations of $57.59 million. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. As a group, research analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current fiscal year.

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.