HC Wainwright Reiterates Buy Rating for Rigel Pharmaceuticals (NASDAQ:RIGL)

Rigel Pharmaceuticals (NASDAQ:RIGL)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $57.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 189.34% from the company’s previous close. HC Wainwright also issued estimates for Rigel Pharmaceuticals’ Q3 2025 earnings at $0.34 EPS and Q4 2025 earnings at $0.48 EPS.

Other equities analysts have also issued research reports about the stock. B. Riley boosted their price objective on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. StockNews.com cut Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Piper Sandler raised their price objective on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Cantor Fitzgerald upped their target price on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Citigroup raised their price target on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rigel Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

Rigel Pharmaceuticals Stock Performance

RIGL stock opened at $19.70 on Wednesday. The firm has a market cap of $347.02 million, a P/E ratio of 140.72 and a beta of 1.35. Rigel Pharmaceuticals has a 1 year low of $7.48 and a 1 year high of $29.82. The stock has a 50-day simple moving average of $20.09 and a 200-day simple moving average of $18.42.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, March 4th. The biotechnology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.50. The company had revenue of $57.60 million during the quarter, compared to the consensus estimate of $57.59 million. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. On average, equities research analysts predict that Rigel Pharmaceuticals will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Raul R. Rodriguez sold 4,952 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $103,595.84. Following the sale, the chief executive officer now directly owns 243,854 shares in the company, valued at approximately $5,101,425.68. This represents a 1.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David A. Santos sold 2,125 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 53,500 shares in the company, valued at approximately $1,119,220. This trade represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,113 shares of company stock valued at $190,644 in the last quarter. Insiders own 9.04% of the company’s stock.

Institutional Investors Weigh In On Rigel Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in RIGL. PDT Partners LLC acquired a new stake in Rigel Pharmaceuticals in the 3rd quarter valued at approximately $322,000. Los Angeles Capital Management LLC increased its holdings in shares of Rigel Pharmaceuticals by 34.5% during the third quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company’s stock valued at $1,205,000 after purchasing an additional 19,094 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Rigel Pharmaceuticals by 29.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 98,006 shares of the biotechnology company’s stock valued at $1,586,000 after purchasing an additional 22,443 shares in the last quarter. Barclays PLC grew its position in Rigel Pharmaceuticals by 158.6% in the 3rd quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock valued at $442,000 after buying an additional 16,772 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Rigel Pharmaceuticals by 45.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 26,238 shares of the biotechnology company’s stock valued at $425,000 after buying an additional 8,140 shares during the period. 66.23% of the stock is currently owned by institutional investors.

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.