FGL Holdings (FG), Rigel Pharmaceuticals (RIGL), Kemper (KMPR): Top Insider Buys of the Past Week

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Who Bought Shares: EVP & Chief Commercial Officer Eldon C. Mayer III

How Many Shares Were Bought: 100,000 @ $3.26 per share

Date of the Transaction(s): September 10-11

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)’s EVP and Chief Commercial Officer purchased over $325,000 worth of shares at the beginning of last week, nearly doubling his direct ownership to 215,000 shares. At the beginning of last September we identified Rigel as a penny stock that was poised to explode. Within a month, the stock had gained 50% in value and climbed even higher throughout October. It hasn’t been able to sustain those gains in 2018 however, declining by 20% this year.

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) is rapidly transitioning from a developmental-stage company into a commercial one following the April FDA approval and May commercialization of Tavalisse, which is forecast to achieve peak sales of $350 million annually for its current approved indications. Rigel is working towards approval in other indications as well, namely for treating autoimmune hemolytic anemia. Rigel will file for European approval for Tavalisse by the end of the year.

Kemper Corporation (NYSE:KMPR)

Who Bought Shares: Director George Cochran

How Many Shares Were Bought: 500 @ $83.55 per share

Date of the Transaction(s): September 12

Kemper Corporation (NYSE:KMPR) director George Cochran, the former Chairman of the Global Financial Institutions Group at Macquarie Capital, owns a total of 10,218.05 shares of the company after his recent insider purchase. Since Mr. Cochran’s first insider purchase of Kemper shares last March, the stock has more than doubled in value.

Kemper Corporation (NYSE:KMPR) shares briefly pulled back to just over $70 in July after selling pressure from Infinity Property shareholders, who were given Kemper shares as part of the merger between the two companies, which was completed ahead of schedule. Kemper’s shares have since recovered to push to all-time highs. The insurance company blew away Q2 revenue estimates at the end of July when it reported $741.9 million in quarterly revenue, topping estimates by more than $110 million.

Disclosure: None