B. Riley Lifts Earnings Estimates for Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) - Research analysts at B. Riley lifted their FY2026 earnings per share estimates for Rigel Pharmaceuticals in a report issued on Tuesday, March 4th. B. Riley analyst K. Patel now expects that the biotechnology company will earn $1.08 per share for the year, up from their prior forecast of $0.97. B. Riley has a "Neutral" rating and a $24.00 price target on the stock. The consensus estimate for Rigel Pharmaceuticals' current full-year earnings is $0.22 per share.

Other research analysts have also issued research reports about the company. Citigroup lifted their price target on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday. Cantor Fitzgerald lifted their target price on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Piper Sandler increased their price target on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. StockNews.com lowered shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, HC Wainwright reiterated a "buy" rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $36.80.

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Rigel Pharmaceuticals Stock Performance

Shares of RIGL stock traded down $0.99 during mid-day trading on Thursday, hitting $19.53. 343,303 shares of the stock were exchanged, compared to its average volume of 246,467. Rigel Pharmaceuticals has a 12-month low of $7.48 and a 12-month high of $29.82. The stock has a market capitalization of $348.86 million, a price-to-earnings ratio of 139.51 and a beta of 1.35. The stock's fifty day simple moving average is $20.28 and its two-hundred day simple moving average is $18.62.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last issued its earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 earnings per share (EPS) for the quarter, beating 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 business had revenue of $57.60 million during the quarter, compared to analysts' expectations of $57.59 million.

Insider Activity at Rigel Pharmaceuticals

In other Rigel Pharmaceuticals news, CEO Raul R. Rodriguez sold 4,952 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dean L. Schorno sold 2,036 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $42,593.12. Following the sale, the chief financial officer now owns 58,969 shares in the company, valued at $1,233,631.48. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,113 shares of company stock worth $190,644 over the last 90 days. Company insiders own 9.04% of the company's stock.

Institutional Trading of Rigel Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in RIGL. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Rigel Pharmaceuticals during the 4th quarter valued at approximately $676,000. Soleus Capital Management L.P. raised its holdings in Rigel Pharmaceuticals by 21.0% during the fourth quarter. Soleus Capital Management L.P. now owns 1,130,679 shares of the biotechnology company's stock worth $19,018,000 after purchasing an additional 195,891 shares during the last quarter. Squarepoint Ops LLC boosted its position in Rigel Pharmaceuticals by 40.1% during the fourth quarter. Squarepoint Ops LLC now owns 63,416 shares of the biotechnology company's stock worth $1,067,000 after purchasing an additional 18,159 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Rigel Pharmaceuticals by 63.0% in the fourth quarter. Two Sigma Advisers LP now owns 63,128 shares of the biotechnology company's stock valued at $1,062,000 after buying an additional 24,400 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Rigel Pharmaceuticals during the 4th quarter worth $1,025,000. Hedge funds and other institutional investors 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.