Segall Bryant & Hamill LLC Purchases Shares of 36,259 Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Segall Bryant & Hamill LLC acquired a new position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 36,259 shares of the biotechnology company’s stock, valued at approximately $610,000. Segall Bryant & Hamill LLC owned about 0.21% of Rigel Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hillsdale Investment Management Inc. grew its stake in Rigel Pharmaceuticals by 814.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 170,100 shares of the biotechnology company’s stock valued at $2,861,000 after purchasing an additional 151,500 shares in the last quarter. Globeflex Capital L P increased its holdings in shares of Rigel Pharmaceuticals by 468.4% during the 4th quarter. Globeflex Capital L P now owns 52,295 shares of the biotechnology company’s stock worth $880,000 after acquiring an additional 43,095 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Rigel Pharmaceuticals by 42.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 139,128 shares of the biotechnology company’s stock valued at $2,340,000 after purchasing an additional 41,122 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Rigel Pharmaceuticals by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 1,012,931 shares of the biotechnology company’s stock valued at $17,038,000 after purchasing an additional 27,640 shares during the last quarter. Finally, FMR LLC raised its position in shares of Rigel Pharmaceuticals by 119.4% in the third quarter. FMR LLC now owns 48,105 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 26,184 shares during the period. Institutional investors and hedge funds own 66.23% of the company’s stock.

Insider Activity

In related news, CFO Dean L. Schorno sold 2,036 shares of Rigel Pharmaceuticals stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $42,593.12. Following the completion of the transaction, the chief financial officer now owns 58,969 shares of the company’s stock, valued at $1,233,631.48. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David A. Santos sold 2,125 shares of Rigel Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total value of $44,455.00. Following the completion of the transaction, the executive vice president now directly owns 53,500 shares of the company’s stock, valued at approximately $1,119,220. This trade represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,113 shares of company stock valued at $190,644. Company insiders own 9.04% of the company’s stock.

Rigel Pharmaceuticals Stock Performance

NASDAQ RIGL opened at $17.88 on Friday. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $7.48 and a fifty-two week high of $29.82. The stock has a market cap of $319.39 million, a PE ratio of 127.72 and a beta of 1.35. The firm’s fifty day moving average price is $21.02 and its two-hundred day moving average price is $19.18.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.50. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. The business had revenue of $57.60 million during the quarter, compared to analysts’ expectations of $57.59 million. As a group, sell-side analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RIGL shares. B. Riley increased their price target on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Citigroup lifted their price target on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, March 5th. Cantor Fitzgerald boosted their target price on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, StockNews.com lowered shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.80.

About Rigel Pharmaceuticals

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.