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

Rigel Pharmaceuticals (NASDAQ:RIGL) is expected to be issuing its quarterly earnings data before the market opens on Tuesday, March 4th. Analysts expect the company to announce earnings of $0.30 per share and revenue of $57.59 million for the quarter.

Rigel Pharmaceuticals Stock Up 6.5 %

RIGL stock opened at $21.39 on Tuesday. Rigel Pharmaceuticals has a 52-week low of $7.48 and a 52-week high of $29.82. The stock’s 50 day moving average is $19.42 and its two-hundred day moving average is $17.96. The company has a market capitalization of $376.78 million, a PE ratio of 152.80 and a beta of 1.34.

Analyst Ratings Changes

Several brokerages have recently commented on RIGL. Piper Sandler lifted their target price on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Citigroup lifted 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. HC Wainwright reiterated a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 22nd. Cantor Fitzgerald lifted their target price on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, B. Riley lifted their target price on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Insider Activity at Rigel Pharmaceuticals

In other Rigel Pharmaceuticals news, CEO Raul R. Rodriguez sold 4,952 shares of Rigel Pharmaceuticals stock in a transaction 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David A. Santos sold 2,125 shares of Rigel Pharmaceuticals stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $44,455.00. Following the sale, the executive vice president now directly owns 53,500 shares in the company, valued at $1,119,220. The trade was a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,113 shares of company stock worth $190,644 in the last 90 days. 9.04% of the stock is currently owned by company 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.