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Equities Analysts Set Expectations for RIGL Q4 Earnings

Rigel Pharmaceuticals logo with Medical background

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) - Equities researchers at HC Wainwright increased their Q4 2024 EPS estimates for Rigel Pharmaceuticals in a research report issued to clients and investors on Tuesday, January 14th. HC Wainwright analyst J. Pantginis now anticipates that the biotechnology company will post earnings per share of $0.65 for the quarter, up from their prior estimate of $0.19. 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 $0.17 per share. HC Wainwright also issued estimates for Rigel Pharmaceuticals' FY2025 earnings at $1.46 EPS and FY2026 earnings at $2.72 EPS.

A number of other brokerages also recently issued reports on RIGL. Cantor Fitzgerald increased their price objective on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Piper Sandler lifted their price target on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Citigroup boosted their price objective on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. StockNews.com raised shares of Rigel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 18th. Finally, B. Riley boosted their price target on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $36.20.

Check Out Our Latest Stock Report on RIGL

Rigel Pharmaceuticals Price Performance

NASDAQ:RIGL traded up $2.78 during trading hours on Friday, hitting $20.13. The stock had a trading volume of 584,497 shares, compared to its average volume of 254,690. The company has a 50 day simple moving average of $21.08 and a two-hundred day simple moving average of $15.62. The firm has a market capitalization of $354.59 million, a price-to-earnings ratio of 143.80 and a beta of 1.31. Rigel Pharmaceuticals has a one year low of $7.48 and a one year high of $29.82.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of large investors have recently modified their holdings of RIGL. SG Americas Securities LLC grew its position in Rigel Pharmaceuticals by 42.8% during the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock valued at $159,000 after acquiring an additional 2,827 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Rigel Pharmaceuticals during the 3rd quarter valued at $193,000. Empire Financial Management Company LLC bought a new position in shares of Rigel Pharmaceuticals during the 3rd quarter valued at $231,000. PDT Partners LLC purchased a new position in Rigel Pharmaceuticals in the 3rd quarter worth $322,000. Finally, BNP Paribas Financial Markets lifted its stake in Rigel Pharmaceuticals by 1,199.2% in the third quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company's stock worth $340,000 after purchasing an additional 19,391 shares during the last quarter. 66.23% of the stock is owned by hedge funds and other institutional investors.

About Rigel Pharmaceuticals

(Get Free Report)

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.

See Also

Earnings History and Estimates for Rigel Pharmaceuticals (NASDAQ:RIGL)

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