Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Rigel Pharmaceuticals, Inc. has received a consensus recommendation of "Hold" from six research firms, with four analysts suggesting hold and two analysts recommending a buy.
• The company's stock price has an average 12-month price target of $38.20, as recently upgraded by Cantor Fitzgerald from $23.00 to $32.00.
• Rigel reported $3.28 earnings per share for the last quarter, exceeding the consensus estimate of $1.97, and had a revenue of $101.69 million compared to analyst expectations of $64.58 million.

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report) has earned an average rating of "Hold" from the six research firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $38.20.

Several research firms have issued reports on RIGL. Cantor Fitzgerald increased their price objective on shares of Rigel Pharmaceuticals from $23.00 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Weiss Ratings restated a "hold (c+)" rating on shares of Rigel Pharmaceuticals in a research report on Saturday, September 27th.

Rigel Pharmaceuticals Stock Up 1.5%

Shares of RIGL opened at $28.54 on Friday. The firm has a market cap of $512.01 million, a P/E ratio of 5.28 and a beta of 1.20. Rigel Pharmaceuticals has a 12 month low of $13.57 and a 12 month high of $43.72. The stock's 50 day moving average is $33.81 and its two-hundred day moving average is $24.13. The company has a current ratio of 2.02, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biotechnology company reported $3.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.97 by $1.31. Rigel Pharmaceuticals had a return on equity of 438.89% and a net margin of 36.51%.The firm had revenue of $101.69 million for the quarter, compared to analyst estimates of $64.58 million. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts predict that Rigel Pharmaceuticals will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Rigel Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the company. RMG Wealth Management LLC purchased a new stake in shares of Rigel Pharmaceuticals during the second quarter worth approximately $41,000. Virtus Advisers LLC acquired a new stake in Rigel Pharmaceuticals during the 1st quarter worth $40,000. Laurel Wealth Advisors LLC grew its holdings in shares of Rigel Pharmaceuticals by 1,773.3% during the second quarter. Laurel Wealth Advisors LLC now owns 2,810 shares of the biotechnology company's stock worth $53,000 after buying an additional 2,660 shares in the last quarter. Legal & General Group Plc raised its position in shares of Rigel Pharmaceuticals by 130.7% in the second quarter. Legal & General Group Plc now owns 4,310 shares of the biotechnology company's stock valued at $81,000 after buying an additional 2,442 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Rigel Pharmaceuticals by 57.4% in the first quarter. US Bancorp DE now owns 5,120 shares of the biotechnology company's stock worth $92,000 after buying an additional 1,868 shares in the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

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.

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