Rigel Pharmaceuticals (RIGL) Projected to Post Quarterly Earnings on Tuesday

Rigel Pharmaceuticals (NASDAQ:RIGL) is expected to be releasing its earnings data after the market closes on Tuesday, March 4th. Analysts expect Rigel Pharmaceuticals to post earnings of $0.30 per share and revenue of $57.59 million for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Rigel Pharmaceuticals Trading Up 5.9 %

Shares of NASDAQ RIGL opened at $23.06 on Friday. Rigel Pharmaceuticals has a one year low of $7.48 and a one year high of $29.82. The business has a 50-day moving average price of $19.79 and a two-hundred day moving average price of $18.22. The firm has a market capitalization of $406.20 million, a PE ratio of 164.73 and a beta of 1.34.

Wall Street Analysts Forecast Growth

RIGL has been the subject of a number of research reports. Piper Sandler raised their target price on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 22nd. Citigroup boosted their target price on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. B. Riley raised their price target on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, StockNews.com cut Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

Insider Buying and Selling

In related news, CFO Dean L. Schorno sold 2,036 shares of Rigel Pharmaceuticals stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Raul R. Rodriguez sold 4,952 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $103,595.84. Following the completion of the sale, the chief executive officer now directly owns 243,854 shares of the company’s stock, valued at $5,101,425.68. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,113 shares of company stock valued at $190,644 over the last three months. Company insiders own 9.04% 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.