Rigel Pharmaceuticals (RIGL) Projected to Post Earnings on Tuesday

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) is projected to post its quarterly earnings results after the market closes on Tuesday, March 4th. Analysts expect Rigel Pharmaceuticals to post earnings of $0.30 per share and revenue of $57.59 million for the quarter. Parties that are interested in participating in the company's conference call can do so using this link.

Rigel Pharmaceuticals Stock Performance

Rigel Pharmaceuticals stock traded up $1.28 during midday trading on Friday, reaching $23.06. The stock had a trading volume of 276,395 shares, compared to its average volume of 236,336. The stock has a market capitalization of $406.20 million, a PE ratio of 164.73 and a beta of 1.34. The stock's 50-day simple moving average is $19.67 and its 200 day simple moving average is $18.10. Rigel Pharmaceuticals has a twelve month low of $7.48 and a twelve month high of $29.82.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler increased their target price on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. HC Wainwright reiterated a "buy" rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research note on Wednesday, January 22nd. B. Riley raised their target price on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Cantor Fitzgerald upped their price target on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Finally, Citigroup raised their price objective on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $36.20.

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Insiders Place Their Bets

In other news, EVP David A. Santos sold 2,125 shares of Rigel Pharmaceuticals stock in a transaction dated 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 directly owns 53,500 shares of the company's stock, valued at approximately $1,119,220. The trade was a 3.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Raul R. Rodriguez sold 4,952 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $103,595.84. Following the sale, the chief executive officer now owns 243,854 shares in the company, valued at approximately $5,101,425.68. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,113 shares of company stock valued at $190,644 over the last 90 days. 9.04% of the stock is owned by company insiders.

About Rigel Pharmaceuticals

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.