Cantor Fitzgerald Has Positive View of RIGL FY2025 Earnings

Key Points

• Cantor Fitzgerald increased its FY2025 EPS estimate for Rigel Pharmaceuticals to $5.17, significantly raising it from the prior estimate of $1.20.
• Rigel reported a quarterly EPS of $3.28, exceeding analyst expectations of $1.97, with a revenue of $101.69 million compared to estimates of $64.58 million.
• Approximately 66.23% of Rigel Pharmaceuticals stock is owned by institutional investors and hedge funds, highlighting strong market interest.

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) - Research analysts at Cantor Fitzgerald upped their FY2025 earnings per share estimates for Rigel Pharmaceuticals in a research note issued on Wednesday, August 6th. Cantor Fitzgerald analyst K. Kluska now anticipates that the biotechnology company will earn $5.17 per share for the year, up from their prior estimate of $1.20. Cantor Fitzgerald currently has a "Neutral" rating and a $32.00 target price on the stock. The consensus estimate for Rigel Pharmaceuticals' current full-year earnings is $0.22 per share. Cantor Fitzgerald also issued estimates for Rigel Pharmaceuticals' FY2026 earnings at $2.70 EPS.

Rigel Pharmaceuticals Stock Performance

Shares of NASDAQ:RIGL traded up $1.26 during midday trading on Friday, reaching $31.70. 1,373,834 shares of the company's stock traded hands, compared to its average volume of 376,274. The company has a market cap of $568.70 million, a price-to-earnings ratio of 5.86 and a beta of 1.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.13 and a current ratio of 2.02. Rigel Pharmaceuticals has a one year low of $9.92 and a one year high of $32.40. The stock has a 50 day moving average of $20.59 and a 200 day moving average of $19.99.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last released its earnings results on Tuesday, August 5th. The biotechnology company reported $3.28 EPS for the quarter, topping 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 analysts' expectations of $64.58 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Armistice Capital LLC lifted its holdings in shares of Rigel Pharmaceuticals by 31.6% during the first quarter. Armistice Capital LLC now owns 1,516,000 shares of the biotechnology company's stock valued at $27,273,000 after purchasing an additional 364,000 shares in the last quarter. Soleus Capital Management L.P. lifted its holdings in shares of Rigel Pharmaceuticals by 21.0% during the fourth quarter. Soleus Capital Management L.P. now owns 1,130,679 shares of the biotechnology company's stock valued at $19,018,000 after purchasing an additional 195,891 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Rigel Pharmaceuticals by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,028,072 shares of the biotechnology company's stock valued at $18,495,000 after purchasing an additional 15,141 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Rigel Pharmaceuticals by 10.3% during the second quarter. Acadian Asset Management LLC now owns 623,004 shares of the biotechnology company's stock valued at $11,664,000 after purchasing an additional 57,959 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Rigel Pharmaceuticals by 27.3% during the first quarter. Assenagon Asset Management S.A. now owns 522,781 shares of the biotechnology company's stock valued at $9,405,000 after purchasing an additional 112,003 shares in the last quarter. 66.23% of the stock is owned by institutional investors.

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.