Cantor Fitzgerald Brokers Raise Earnings Estimates for RIGL

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) - Equities researchers at Cantor Fitzgerald lifted their FY2025 earnings per share (EPS) estimates for shares of Rigel Pharmaceuticals in a research report issued to clients and investors 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 prior forecast of $1.04. Cantor Fitzgerald currently has a "Neutral" rating and a $25.00 target price on the stock. The consensus estimate for Rigel Pharmaceuticals' current full-year earnings is $0.22 per share.

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

A number of other brokerages have also commented on RIGL. Citigroup increased their price objective on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Piper Sandler lifted their price target 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. B. Riley upped their price objective on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, March 5th. StockNews.com downgraded shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, HC Wainwright reissued a "buy" rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.80.

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Rigel Pharmaceuticals Trading Down 0.2 %

Rigel Pharmaceuticals stock traded down $0.04 during mid-day trading on Friday, hitting $19.49. 288,194 shares of the company's stock were exchanged, compared to its average volume of 247,376. Rigel Pharmaceuticals has a 1-year low of $7.48 and a 1-year high of $29.82. The stock has a 50 day moving average of $20.28 and a two-hundred day moving average of $18.62. The stock has a market cap of $348.15 million, a P/E ratio of 139.22 and a beta of 1.35.

Insider Transactions at Rigel Pharmaceuticals

In related news, CFO Dean L. Schorno sold 2,036 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was 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 owns 58,969 shares of the company's stock, valued at $1,233,631.48. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David A. Santos sold 2,125 shares of the 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 sale, the executive vice president now owns 53,500 shares in the company, valued at $1,119,220. This represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,113 shares of company stock valued at $190,644 in the last ninety days. 9.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Rigel Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Rigel Pharmaceuticals during the 4th quarter worth approximately $63,000. Wells Fargo & Company MN grew its stake in shares of Rigel Pharmaceuticals by 44.5% in the 4th quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company's stock worth $145,000 after acquiring an additional 2,648 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Rigel Pharmaceuticals by 42.8% in the 4th quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock worth $159,000 after buying an additional 2,827 shares during the last quarter. Graham Capital Management L.P. bought a new position in Rigel Pharmaceuticals in the 4th quarter valued at $170,000. Finally, Integrated Quantitative Investments LLC bought a new position in Rigel Pharmaceuticals during the fourth quarter valued at about $181,000. 66.23% of the stock is owned by institutional investors and hedge funds.

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.