B. Riley Forecasts Higher Earnings for Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) - B. Riley raised their FY2025 EPS estimates for shares of Rigel Pharmaceuticals in a research report issued on Tuesday, May 6th. B. Riley analyst K. Patel now forecasts that the biotechnology company will post earnings of $0.93 per share for the year, up from their previous estimate of $0.84. 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' FY2026 earnings at $1.10 EPS.

Several other equities analysts have also recently issued reports on RIGL. Cantor Fitzgerald boosted their price objective on shares of Rigel Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. StockNews.com downgraded shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 8th. Citigroup upped their price objective on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, HC Wainwright restated a "buy" rating and set a $57.00 price objective 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.40.

Rigel Pharmaceuticals Trading Down 1.2%

Shares of Rigel Pharmaceuticals stock traded down $0.22 during trading on Thursday, reaching $18.39. The company's stock had a trading volume of 118,660 shares, compared to its average volume of 212,345. The company has a 50-day moving average price of $18.53 and a two-hundred day moving average price of $19.89. The firm has a market cap of $328.57 million, a PE ratio of 131.37 and a beta of 1.34. Rigel Pharmaceuticals has a fifty-two week low of $7.48 and a fifty-two week high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.49. The business had revenue of $53.33 million for the quarter, compared to analysts' expectations of $43.87 million. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. During the same period in the previous year, the company posted ($0.50) EPS.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nuveen LLC acquired a new position in shares of Rigel Pharmaceuticals during the 1st quarter worth $2,073,000. Invesco Ltd. acquired a new position in shares of Rigel Pharmaceuticals during the 1st quarter worth $2,412,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Rigel Pharmaceuticals by 13.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 157,924 shares of the biotechnology company's stock worth $2,841,000 after purchasing an additional 18,796 shares during the period. CM Management LLC grew its stake in shares of Rigel Pharmaceuticals by 3.1% during the 1st quarter. CM Management LLC now owns 250,000 shares of the biotechnology company's stock worth $4,498,000 after purchasing an additional 7,500 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Rigel Pharmaceuticals by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,028,072 shares of the biotechnology company's stock worth $18,495,000 after purchasing an additional 15,141 shares during the period. 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.