Janus Henderson Group PLC Purchases 99,659 Shares of Rigel Pharmaceuticals, Inc. $RIGL

Janus Henderson Group PLC increased its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 275.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,877 shares of the biotechnology company’s stock after buying an additional 99,659 shares during the period. Janus Henderson Group PLC’s holdings in Rigel Pharmaceuticals were worth $3,674,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Rigel Pharmaceuticals by 400.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,275 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 1,020 shares in the last quarter. CWM LLC increased its position in Rigel Pharmaceuticals by 217.0% in the fourth quarter. CWM LLC now owns 1,791 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 1,226 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Rigel Pharmaceuticals during the third quarter valued at $62,000. Truvestments Capital LLC raised its stake in Rigel Pharmaceuticals by 120.3% during the fourth quarter. Truvestments Capital LLC now owns 2,207 shares of the biotechnology company’s stock valued at $95,000 after purchasing an additional 1,205 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in Rigel Pharmaceuticals by 21.8% during the fourth quarter. IFP Advisors Inc now owns 2,264 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Up 2.4%

RIGL opened at $40.17 on Friday. The business has a fifty day moving average of $36.87 and a 200 day moving average of $33.03. The stock has a market cap of $743.14 million, a P/E ratio of 2.46 and a beta of 1.16. Rigel Pharmaceuticals, Inc. has a 52-week low of $24.95 and a 52-week high of $52.24.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.79. Rigel Pharmaceuticals had a return on equity of 22.95% and a net margin of 116.30%.The business had revenue of $78.70 million for the quarter, compared to analyst estimates of $55.27 million. Equities analysts anticipate that Rigel Pharmaceuticals, Inc. will post 2.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kamil Ali-Jackson sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $35.00, for a total value of $87,500.00. Following the transaction, the director owned 10,125 shares of the company’s stock, valued at $354,375. This trade represents a 19.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 10.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RIGL has been the subject of a number of recent research reports. Weiss Ratings raised shares of Rigel Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Zacks Research downgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. HC Wainwright reiterated a “buy” rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Tuesday, June 2nd. Finally, Citigroup reissued a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Thursday. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.50.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.

Rigel’s lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).