Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Shares Bought by Paulson & CO. Inc.

Paulson & CO. Inc. raised its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 20.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 662,056 shares of the biotechnology company’s stock after purchasing an additional 112,056 shares during the quarter. Paulson & CO. Inc. owned 0.53% of Rigel Pharmaceuticals worth $1,807,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parametric Portfolio Associates LLC raised its position in Rigel Pharmaceuticals by 11.3% in the first quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 3,118 shares during the period. AXA purchased a new stake in shares of Rigel Pharmaceuticals during the second quarter worth $122,000. Voya Investment Management LLC increased its position in shares of Rigel Pharmaceuticals by 30.4% during the second quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock worth $146,000 after acquiring an additional 12,500 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Rigel Pharmaceuticals during the second quarter worth $193,000. Finally, American International Group Inc. increased its position in shares of Rigel Pharmaceuticals by 39.9% during the first quarter. American International Group Inc. now owns 74,900 shares of the biotechnology company’s stock worth $248,000 after acquiring an additional 21,345 shares during the period. 76.50% of the stock is currently owned by institutional investors.

A number of research firms have recently weighed in on RIGL. ValuEngine raised Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Monday, October 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 4th. Zacks Investment Research raised Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. BMO Capital Markets reaffirmed a “buy” rating and set a $5.00 price objective on shares of Rigel Pharmaceuticals in a research report on Monday, October 2nd. Finally, BidaskClub lowered Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.75.

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Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) traded up 3.16% during trading on Friday, reaching $3.92. The company had a trading volume of 464,985 shares. The company’s market capitalization is $487.62 million. The stock has a 50 day moving average price of $3.13 and a 200-day moving average price of $2.72. Rigel Pharmaceuticals, Inc. has a 52-week low of $1.94 and a 52-week high of $4.33.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.01). Rigel Pharmaceuticals had a negative return on equity of 105.86% and a negative net margin of 354.14%. During the same quarter in the previous year, the company posted ($0.15) EPS. On average, equities research analysts anticipate that Rigel Pharmaceuticals, Inc. will post ($0.60) earnings per share for the current fiscal year.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

Institutional Ownership by Quarter for Rigel Pharmaceuticals (NASDAQ:RIGL)

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