FY2025 EPS Estimates for RIGL Boosted by Cantor Fitzgerald

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Investment analysts at Cantor Fitzgerald lifted their FY2025 earnings estimates for shares of Rigel Pharmaceuticals in a research report issued on Wednesday, March 5th. Cantor Fitzgerald analyst K. Kluska now forecasts that the biotechnology company will post earnings per share of $1.32 for the year, up from their previous forecast of $1.04. Cantor Fitzgerald has a “Neutral” rating and a $25.00 price target 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, topping the consensus estimate of $0.30 by $0.50. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. The firm had revenue of $57.60 million for the quarter, compared to the consensus estimate of $57.59 million.

Several other brokerages have also weighed in on RIGL. HC Wainwright reiterated a “buy” rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday. StockNews.com lowered shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Piper Sandler lifted their target price on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Citigroup lifted their target price on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday. Finally, B. Riley boosted their price target on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Rigel Pharmaceuticals Stock Performance

NASDAQ:RIGL opened at $19.70 on Friday. The firm’s 50-day moving average is $20.09 and its 200-day moving average is $18.42. Rigel Pharmaceuticals has a 52-week low of $7.48 and a 52-week high of $29.82. The company has a market cap of $347.02 million, a price-to-earnings ratio of 140.72 and a beta of 1.35.

Insider Transactions at Rigel Pharmaceuticals

In other news, CEO Raul R. Rodriguez sold 4,952 shares of the 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 $5,101,425.68. This represents a 1.99 % decrease in their ownership of the stock. 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 the stock in a transaction 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 of the company’s stock, valued at $1,119,220. The trade was a 3.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,113 shares of company stock worth $190,644. Corporate insiders own 9.04% of the company’s stock.

Institutional Trading of Rigel Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. acquired a new stake in Rigel Pharmaceuticals in the fourth quarter valued at $63,000. Wells Fargo & Company MN raised its position in shares of Rigel Pharmaceuticals by 44.5% in the fourth quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 2,648 shares during the period. SG Americas Securities LLC raised its position in shares of Rigel Pharmaceuticals by 42.8% in the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock valued at $159,000 after purchasing an additional 2,827 shares during the period. Graham Capital Management L.P. bought a new position in shares of Rigel Pharmaceuticals in the fourth quarter valued at about $170,000. Finally, Integrated Quantitative Investments LLC bought a new position in shares of Rigel Pharmaceuticals in the fourth quarter valued at about $181,000. Institutional investors and hedge funds own 66.23% of the company’s stock.

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.