What is HC Wainwright’s Forecast for RIGL FY2027 Earnings?

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Analysts at HC Wainwright dropped their FY2027 EPS estimates for Rigel Pharmaceuticals in a research report issued on Wednesday, August 5th. HC Wainwright analyst J. Pantginis now expects that the biotechnology company will post earnings of $3.08 per share for the year, down from their previous forecast of $3.40. HC Wainwright currently has a “Buy” rating and a $57.00 target price on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $3.51 per share. HC Wainwright also issued estimates for Rigel Pharmaceuticals’ FY2028 earnings at $3.61 EPS.

Other equities analysts also recently issued reports about the company. Citigroup reissued a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research note on Friday, July 17th. Finally, Zacks Research lowered Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Rigel Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $54.50.

Rigel Pharmaceuticals Price Performance

Shares of RIGL opened at $40.48 on Thursday. Rigel Pharmaceuticals has a twelve month low of $24.95 and a twelve month high of $52.24. The stock’s 50 day moving average is $36.49 and its two-hundred day moving average is $32.97. The firm has a market capitalization of $748.96 million, a PE ratio of 2.48 and a beta of 1.16. The company has a current ratio of 2.62, a quick ratio of 2.48 and a debt-to-equity ratio of 0.04.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.79. The firm had revenue of $78.70 million during the quarter, compared to analysts’ expectations of $55.27 million. Rigel Pharmaceuticals had a net margin of 116.30% and a return on equity of 25.27%.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Rigel Pharmaceuticals by 400.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,275 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 1,020 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Rigel Pharmaceuticals in the 3rd quarter valued at approximately $62,000. Wexford Capital LP acquired a new position in Rigel Pharmaceuticals during the third quarter worth $66,000. CWM LLC raised its holdings in Rigel Pharmaceuticals by 217.0% during the fourth quarter. CWM LLC now owns 1,791 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 1,226 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Rigel Pharmaceuticals by 130.7% during the second quarter. Legal & General Group Plc now owns 4,310 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 2,442 shares during the last quarter. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rigel Pharmaceuticals news, Director Kamil Ali-Jackson sold 2,500 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $35.00, for a total transaction of $87,500.00. Following the transaction, the director directly owned 10,125 shares in the company, valued at approximately $354,375. This represents a 19.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 10.47% of the company’s stock.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.

Rigel’s lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).