Analysts Set Expectations for RIGL Q1 Earnings

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) - Equities research analysts at B. Riley issued their Q1 2025 earnings per share (EPS) estimates for Rigel Pharmaceuticals in a report issued on Tuesday, March 4th. B. Riley analyst K. Patel forecasts that the biotechnology company will post earnings of $0.10 per share for the quarter. B. Riley currently has a "Neutral" rating and a $24.00 target price on the stock. The consensus estimate for Rigel Pharmaceuticals' current full-year earnings is $0.22 per share. B. Riley also issued estimates for Rigel Pharmaceuticals' Q2 2025 earnings at $0.18 EPS, Q3 2025 earnings at $0.17 EPS, Q4 2025 earnings at $0.38 EPS and FY2025 earnings at $0.84 EPS.

Other equities research analysts have also recently issued reports about the company. HC Wainwright reiterated a "buy" rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, March 5th. Citigroup lifted their price target on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Piper Sandler increased their price objective on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Cantor Fitzgerald lifted 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. Finally, StockNews.com cut shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.80.

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Rigel Pharmaceuticals Stock Down 0.2 %

Shares of NASDAQ RIGL traded down $0.04 during trading on Friday, hitting $19.49. The company had a trading volume of 288,194 shares, compared to its average volume of 247,376. Rigel Pharmaceuticals has a fifty-two week low of $7.48 and a fifty-two week high of $29.82. The stock has a fifty day simple moving average of $20.28 and a two-hundred day simple moving average of $18.62. The firm has a market capitalization of $348.15 million, a price-to-earnings ratio of 139.22 and a beta of 1.35.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last issued its quarterly 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. The company had revenue of $57.60 million during the quarter, compared to analyst estimates of $57.59 million. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%.

Insiders Place Their Bets

In other news, CFO Dean L. Schorno sold 2,036 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $42,593.12. Following the completion of the sale, the chief financial officer now owns 58,969 shares in the company, valued at $1,233,631.48. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David A. Santos sold 2,125 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $44,455.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,113 shares of company stock valued at $190,644. Insiders own 9.04% of the company's stock.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RIGL. Soleus Capital Management L.P. grew its holdings in shares of Rigel Pharmaceuticals by 21.0% during the 4th 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 period. Renaissance Technologies LLC lifted its position in Rigel Pharmaceuticals by 111.1% in the fourth quarter. Renaissance Technologies LLC now owns 299,709 shares of the biotechnology company's stock valued at $5,041,000 after buying an additional 157,763 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Rigel Pharmaceuticals by 587.9% during the fourth quarter. JPMorgan Chase & Co. now owns 180,492 shares of the biotechnology company's stock worth $3,036,000 after buying an additional 154,254 shares during the period. Hillsdale Investment Management Inc. increased its position in shares of Rigel Pharmaceuticals by 814.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 170,100 shares of the biotechnology company's stock valued at $2,861,000 after acquiring an additional 151,500 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Rigel Pharmaceuticals in the 4th quarter valued at approximately $2,178,000. 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.