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

Rigel Pharmaceuticals (NASDAQ:RIGL) posted its earnings results on Tuesday. The biotechnology company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates 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 Trading Down 1.3 %

RIGL stock traded down $0.29 during trading on Tuesday, hitting $22.08. 257,823 shares of the company’s stock were exchanged, compared to its average volume of 237,396. The business has a 50-day moving average price of $19.90 and a two-hundred day moving average price of $18.33. The stock 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 52-week low of $7.48 and a 52-week high of $29.82.

Insider Buying and Selling at Rigel Pharmaceuticals

In related news, EVP David A. Santos sold 2,125 shares of the firm’s stock in a transaction that occurred on 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 owns 53,500 shares in the company, valued at $1,119,220. This trade represents a 3.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Raul R. Rodriguez sold 4,952 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $103,595.84. Following the completion of the sale, the chief executive officer now owns 243,854 shares of the company’s stock, valued at approximately $5,101,425.68. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,113 shares of company stock worth $190,644 over the last three months. Insiders own 9.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Cantor Fitzgerald boosted their target price on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. B. Riley increased their price target on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. HC Wainwright reiterated a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a report on Wednesday, January 22nd. Citigroup boosted their price target on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, StockNews.com cut Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. 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 a consensus target price of $36.20.

About Rigel Pharmaceuticals

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.