Rigel Pharmaceuticals (NASDAQ:RIGL) Releases Earnings Results, Beats Expectations By $0.50 EPS

Rigel Pharmaceuticals (NASDAQ:RIGL) issued its quarterly earnings data on Tuesday. The biotechnology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.30 by $0.50, Zacks reports. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. Rigel Pharmaceuticals updated its FY 2025 guidance to EPS.

Rigel Pharmaceuticals Price Performance

NASDAQ:RIGL traded down $0.29 during mid-day trading on Tuesday, reaching $22.08. 254,965 shares of the company’s stock traded hands, compared to its average volume of 235,943. The company has a 50 day moving average price of $19.90 and a 200-day moving average price of $18.33. The firm has a market capitalization of $388.94 million, a price-to-earnings ratio of 157.73 and a beta of 1.34. Rigel Pharmaceuticals has a 12-month low of $7.48 and a 12-month high of $29.82.

Insiders Place Their Bets

In related news, CFO Dean L. Schorno sold 2,036 shares of the 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 completion of the transaction, the chief financial officer now directly owns 58,969 shares of the company’s stock, valued at $1,233,631.48. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Raul R. Rodriguez sold 4,952 shares of the firm’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 value of $103,595.84. Following the completion of the transaction, the chief executive officer now owns 243,854 shares of the company’s stock, valued at approximately $5,101,425.68. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,113 shares of company stock worth $190,644. 9.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on RIGL. StockNews.com cut shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Piper Sandler upped their target price on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. B. Riley increased their target price on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Cantor Fitzgerald lifted their price target on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.20.

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.