B. Riley Research Analysts Cut Earnings Estimates for RIGL

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) - Stock analysts at B. Riley lowered their Q2 2025 earnings per share estimates for shares of Rigel Pharmaceuticals in a research note issued to investors on Tuesday, May 6th. B. Riley analyst K. Patel now forecasts that the biotechnology company will post earnings per share of $0.14 for the quarter, down from their prior forecast of $0.18. B. Riley has a "Neutral" rating and a $24.00 price objective 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' Q3 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.16 EPS and FY2027 earnings at $1.44 EPS.

Several other brokerages also recently commented on RIGL. StockNews.com downgraded shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 8th. Cantor Fitzgerald boosted their price target on Rigel Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. HC Wainwright reaffirmed a "buy" rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. Finally, Citigroup lifted their target price on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Rigel Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.40.

Rigel Pharmaceuticals Stock Down 0.9%

Shares of NASDAQ:RIGL traded down $0.16 during midday trading on Friday, hitting $18.61. The stock had a trading volume of 218,483 shares, compared to its average volume of 212,706. The company's 50-day moving average price is $18.53 and its 200-day moving average price is $19.89. Rigel Pharmaceuticals has a fifty-two week low of $7.48 and a fifty-two week high of $29.82. The company has a market capitalization of $332.50 million, a P/E ratio of 132.94 and a beta of 1.34.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its quarterly 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. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. The business had revenue of $53.33 million during the quarter, compared to the consensus estimate of $43.87 million. During the same quarter in the previous year, the firm earned ($0.50) earnings per share.

Institutional Trading of Rigel Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. acquired a new stake in Rigel Pharmaceuticals during the 4th quarter worth approximately $63,000. US Bancorp DE raised its stake in shares of Rigel Pharmaceuticals by 57.4% during the first quarter. US Bancorp DE now owns 5,120 shares of the biotechnology company's stock valued at $92,000 after acquiring an additional 1,868 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Rigel Pharmaceuticals by 65.9% during the first quarter. New York State Common Retirement Fund now owns 5,536 shares of the biotechnology company's stock worth $100,000 after purchasing an additional 2,200 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Rigel Pharmaceuticals by 44.5% during the fourth quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company's stock worth $145,000 after purchasing an additional 2,648 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Rigel Pharmaceuticals by 42.8% in the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock worth $159,000 after purchasing an additional 2,827 shares during the last quarter. 66.23% of the stock is currently owned by institutional investors.

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.