Voya Strengthens Position in Rigel Pharmaceuticals, Inc. (RIGL)

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) is among the best low-priced growth stocks to buy now. According to the latest Form 13F filing, Voya Investment Management LLC has expanded its holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 42.9% during the first quarter. Following the purchase of 43,862 shares, the global asset manager now owns 13,177 shares of the company’s stock, translating to an investment of $1,040,000 and ownership of approximately 0.16%.

There are many reasons to believe in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) as it grows revenue with three marketed drugs and a solid pipeline. Although several biotech companies experienced profitability challenges for years, Rigel is already generating free cash flow, exhibiting gross margins that exceed 90%. As the company develops Tavalisse, Rezlidhia, and Gavreto, it can fund commercialization without near-term dilution, thanks to its high margins and strong cash position.

When considering Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL), one can never ignore the meaningful pipeline assets the company has. Of particular importance is the R289 program, targeting patients with myelodysplastic syndromes (MDS).

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) is a California-based biotechnology company specializing in therapies for people living with hematologic disorders and cancer. Founded in 1996, the company is dedicated to bringing new medicines into the market.

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Disclosure: None.