Rigel Pharmaceuticals (NASDAQ:RIGL) Issues Quarterly Earnings Results, Beats Estimates By $1.31 EPS

Key Points

• Rigel Pharmaceuticals reported a quarterly earnings per share (EPS) of $3.28, significantly exceeding analysts' estimates of $1.42 by $1.86.
• The company's share price increased by 6.9%, reaching $24.24 during trading, with a notable volume of 1,161,123 shares exchanged.
• Analysts have set a consensus target price of $36.40 for Rigel Pharmaceuticals, with mixed ratings including three "buy" and three "hold" ratings.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) posted its quarterly earnings results on Tuesday. The biotechnology company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $1.31, Zacks reports. The company had revenue of $101.69 million for the quarter, compared to analyst estimates of $64.58 million. Rigel Pharmaceuticals had a net margin of 36.51% and a return on equity of 438.89%. Rigel Pharmaceuticals updated its FY 2025 guidance to EPS.

Rigel Pharmaceuticals Price Performance

Shares of Rigel Pharmaceuticals stock traded up $1.26 during trading on Friday, hitting $31.70. 1,373,834 shares of the company's stock traded hands, compared to its average volume of 376,274. Rigel Pharmaceuticals has a twelve month low of $9.92 and a twelve month high of $32.40. The company has a market cap of $568.70 million, a PE ratio of 5.86 and a beta of 1.21. The firm's fifty day moving average price is $20.59 and its 200 day moving average price is $19.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 2.13.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald raised their price target on shares of Rigel Pharmaceuticals from $23.00 to $32.00 and gave the stock a "neutral" rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Rigel Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.20.

Hedge Funds Weigh In On Rigel Pharmaceuticals

An institutional investor recently bought a new position in Rigel Pharmaceuticals stock. AQR Capital Management LLC purchased a new stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,626 shares of the biotechnology company's stock, valued at approximately $191,000. AQR Capital Management LLC owned about 0.06% of Rigel Pharmaceuticals as of its most recent SEC filing. 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.