FY2025 EPS Estimates for RIGL Increased by Cantor Fitzgerald

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Cantor Fitzgerald lifted their FY2025 earnings per share (EPS) estimates for shares of Rigel Pharmaceuticals in a report released on Wednesday, March 5th. Cantor Fitzgerald analyst K. Kluska now anticipates that the biotechnology company will post earnings of $1.32 per share for the year, up from their prior forecast of $1.04. Cantor Fitzgerald has a “Neutral” rating and a $25.00 price target on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $0.22 per share.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.50. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. The business had revenue of $57.60 million during the quarter, compared to analysts’ expectations of $57.59 million.

Several other equities research analysts have also recently weighed in on RIGL. B. Riley upped their target price on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup upped their target price on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com cut Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday. HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday. Finally, Piper Sandler boosted their price target on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Rigel Pharmaceuticals Trading Up 4.2 %

Shares of RIGL stock opened at $20.52 on Friday. Rigel Pharmaceuticals has a twelve month low of $7.48 and a twelve month high of $29.82. The stock has a market capitalization of $361.46 million, a price-to-earnings ratio of 146.58 and a beta of 1.35. The stock has a fifty day simple moving average of $20.14 and a two-hundred day simple moving average of $18.43.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Soleus Capital Management L.P. increased its position in Rigel Pharmaceuticals by 21.0% during the 4th quarter. Soleus Capital Management L.P. now owns 1,130,679 shares of the biotechnology company’s stock valued at $19,018,000 after buying an additional 195,891 shares in the last quarter. Vanguard Group Inc. increased its position in Rigel Pharmaceuticals by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 1,012,931 shares of the biotechnology company’s stock valued at $17,038,000 after buying an additional 27,640 shares in the last quarter. Geode Capital Management LLC increased its position in Rigel Pharmaceuticals by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 402,051 shares of the biotechnology company’s stock valued at $6,764,000 after buying an additional 2,388 shares in the last quarter. State Street Corp increased its position in Rigel Pharmaceuticals by 0.7% during the 3rd quarter. State Street Corp now owns 367,795 shares of the biotechnology company’s stock valued at $5,951,000 after buying an additional 2,552 shares in the last quarter. Finally, Stonepine Capital Management LLC increased its position in Rigel Pharmaceuticals by 1.3% during the 3rd quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company’s stock valued at $5,001,000 after buying an additional 4,100 shares in the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rigel Pharmaceuticals

In related news, EVP David A. Santos sold 2,125 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $44,455.00. Following the transaction, the executive vice president now directly owns 53,500 shares of the company’s stock, valued at $1,119,220. This represents a 3.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Dean L. Schorno sold 2,036 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $42,593.12. Following the transaction, the chief financial officer now directly owns 58,969 shares in the company, valued at $1,233,631.48. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,113 shares of company stock valued at $190,644. Corporate insiders own 9.04% of the company’s stock.

Rigel Pharmaceuticals Company Profile

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.