FY2025 EPS Estimates for RIGL Boosted by Cantor Fitzgerald

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Cantor Fitzgerald upped their FY2025 earnings per share (EPS) estimates for shares of Rigel Pharmaceuticals in a research report issued to clients and investors 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 previous forecast of $1.04. Cantor Fitzgerald currently has a “Neutral” rating and a $25.00 target price on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $0.22 per share.

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

Several other equities research analysts also recently commented on RIGL. StockNews.com downgraded Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday. B. Riley upped their target price on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup upped their target price on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Piper Sandler upped their price target on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Rigel Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Rigel Pharmaceuticals Stock Performance

Shares of NASDAQ:RIGL opened at $19.70 on Friday. The company 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 one year low of $7.48 and a one year high of $29.82. The business’s 50-day simple moving average is $20.09 and its 200 day simple moving average is $18.42.

Institutional Investors Weigh In On Rigel Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Rigel Pharmaceuticals during the 4th quarter valued at $676,000. Soleus Capital Management L.P. boosted its stake in shares of 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 during the period. Squarepoint Ops LLC boosted its stake in shares of Rigel Pharmaceuticals by 40.1% during the 4th quarter. Squarepoint Ops LLC now owns 63,416 shares of the biotechnology company’s stock valued at $1,067,000 after buying an additional 18,159 shares during the period. Two Sigma Advisers LP boosted its stake in shares of Rigel Pharmaceuticals by 63.0% during the 4th quarter. Two Sigma Advisers LP now owns 63,128 shares of the biotechnology company’s stock valued at $1,062,000 after buying an additional 24,400 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in shares of Rigel Pharmaceuticals during the 4th quarter valued at $1,025,000. Institutional investors and hedge funds own 66.23% of the company’s stock.

Insider Transactions at Rigel Pharmaceuticals

In other news, CFO Dean L. Schorno sold 2,036 shares of the business’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 $42,593.12. Following the sale, the chief financial officer now owns 58,969 shares in the company, valued at $1,233,631.48. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David A. Santos sold 2,125 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,119,220. This represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,113 shares of company stock valued at $190,644. 9.04% of the stock is currently owned by corporate insiders.

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.