Rigel Pharmaceuticals (NASDAQ:RIGL) Reaches New 1-Year High - Still a Buy?

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $41.25 and last traded at $40.07, with a volume of 1139554 shares. The stock had previously closed at $39.51.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald increased their price target on Rigel Pharmaceuticals from $23.00 to $32.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $38.20.

Rigel Pharmaceuticals Trading Down 1.2%

The business has a fifty day moving average price of $24.11 and a 200 day moving average price of $21.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.02. The firm has a market capitalization of $744.39 million, a price-to-earnings ratio of 7.67 and a beta of 1.21.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $64.58 million. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP purchased a new stake in Rigel Pharmaceuticals during the fourth quarter valued at about $288,000. Two Sigma Investments LP acquired a new stake in Rigel Pharmaceuticals in the 4th quarter valued at $1,025,000. Deutsche Bank AG increased its holdings in Rigel Pharmaceuticals by 100.5% in the 4th quarter. Deutsche Bank AG now owns 13,744 shares of the biotechnology company's stock valued at $231,000 after purchasing an additional 6,890 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Rigel Pharmaceuticals in the 1st quarter valued at $804,000. Finally, Millennium Management LLC acquired a new stake in Rigel Pharmaceuticals in the 4th quarter valued at $1,185,000. Hedge funds and other institutional investors 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.