HC Wainwright Brokers Raise Earnings Estimates for RIGL

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Equities research analysts at HC Wainwright raised their Q4 2024 earnings per share (EPS) estimates for shares of Rigel Pharmaceuticals in a research note issued on Tuesday, January 14th. HC Wainwright analyst J. Pantginis now expects that the biotechnology company will post earnings of $0.65 per share for the quarter, up from their prior estimate of $0.19. HC Wainwright currently has a “Buy” rating and a $57.00 price target on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $0.17 per share. HC Wainwright also issued estimates for Rigel Pharmaceuticals’ FY2025 earnings at $1.46 EPS and FY2026 earnings at $2.72 EPS.

A number of other equities analysts have also commented on RIGL. Citigroup raised their price objective on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. B. Riley raised their price target on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Cantor Fitzgerald boosted their price target 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. Piper Sandler increased their price objective on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, StockNews.com upgraded Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

Rigel Pharmaceuticals Stock Up 16.0 %

RIGL stock opened at $20.13 on Friday. The stock has a 50-day simple moving average of $21.04 and a two-hundred day simple moving average of $15.70. Rigel Pharmaceuticals has a twelve month low of $7.48 and a twelve month high of $29.82. The firm has a market capitalization of $354.59 million, a PE ratio of 143.80 and a beta of 1.31.

Institutional Trading of Rigel Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC grew its position in Rigel Pharmaceuticals by 42.8% in the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock worth $159,000 after acquiring an additional 2,827 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Rigel Pharmaceuticals by 45.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,238 shares of the biotechnology company’s stock worth $425,000 after purchasing an additional 8,140 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Rigel Pharmaceuticals during the 3rd quarter valued at about $193,000. Barclays PLC increased its position in shares of Rigel Pharmaceuticals by 158.6% during the 3rd quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock valued at $442,000 after purchasing an additional 16,772 shares during the last quarter. Finally, Empire Financial Management Company LLC purchased a new position in shares of Rigel Pharmaceuticals during the 3rd quarter valued at about $231,000. Hedge funds and other institutional investors own 66.23% of the company’s stock.

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.