Empire Financial Management Company LLC Purchases New Position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Empire Financial Management Company LLC purchased a new position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,250 shares of the biotechnology company’s stock, valued at approximately $231,000.

Other institutional investors also recently bought and sold shares of the company. Ground Swell Capital LLC purchased a new position in Rigel Pharmaceuticals during the second quarter valued at $141,000. PDT Partners LLC acquired a new stake in Rigel Pharmaceuticals during the 3rd quarter worth $322,000. BNP Paribas Financial Markets boosted its position in Rigel Pharmaceuticals by 1,199.2% during the third quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock worth $340,000 after acquiring an additional 19,391 shares during the last quarter. Barclays PLC lifted its stake in Rigel Pharmaceuticals by 158.6% in the 3rd quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock worth $442,000 after purchasing an additional 16,772 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Rigel Pharmaceuticals by 119.4% during the 3rd quarter. FMR LLC now owns 48,105 shares of the biotechnology company’s stock worth $778,000 after purchasing an additional 26,184 shares during the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RIGL has been the subject of several recent research reports. Citigroup increased their price target on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Tuesday. Piper Sandler upped their price objective on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. B. Riley lifted their target price on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, StockNews.com raised shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

Rigel Pharmaceuticals Trading Down 11.2 %

RIGL opened at $20.56 on Wednesday. The firm has a market cap of $362.16 million, a price-to-earnings ratio of 146.86 and a beta of 1.22. Rigel Pharmaceuticals, Inc. has a 12-month low of $7.48 and a 12-month high of $29.82. The stock’s 50-day moving average price is $19.84 and its 200 day moving average price is $14.20.

Rigel Pharmaceuticals Company 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.