Cantor Fitzgerald Estimates RIGL FY2025 Earnings

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Equities research analysts at Cantor Fitzgerald issued their FY2025 earnings per share estimates for shares of Rigel Pharmaceuticals in a report released on Tuesday, January 21st. Cantor Fitzgerald analyst K. Kluska forecasts that the biotechnology company will earn $1.04 per share for the year. Cantor Fitzgerald has a “Neutral” rating and a $25.00 price objective on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $0.22 per share.

A number of other research firms have also recently weighed in on RIGL. HC Wainwright reissued a “buy” rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a report on Tuesday, January 14th. StockNews.com upgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 18th. Piper Sandler increased their price objective on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. B. Riley increased their target price on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Citigroup boosted their price target on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Rigel Pharmaceuticals Trading Up 8.3 %

NASDAQ:RIGL opened at $21.81 on Wednesday. The stock has a fifty day moving average price of $20.83 and a 200 day moving average price of $15.99. Rigel Pharmaceuticals has a 12-month low of $7.48 and a 12-month high of $29.82. The firm has a market cap of $384.07 million, a PE ratio of 155.80 and a beta of 1.31.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.01 by $0.69. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. The firm had revenue of $55.31 million for the quarter, compared to analyst estimates of $40.69 million. During the same quarter in the previous year, the company earned ($0.30) EPS.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in RIGL. Assenagon Asset Management S.A. purchased a new stake in shares of Rigel Pharmaceuticals in the third quarter valued at about $7,148,000. FMR LLC raised its stake in Rigel Pharmaceuticals by 119.4% in the 3rd quarter. FMR LLC now owns 48,105 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 26,184 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Rigel Pharmaceuticals by 29.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 98,006 shares of the biotechnology company’s stock valued at $1,586,000 after purchasing an additional 22,443 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of Rigel Pharmaceuticals during the 3rd quarter worth about $322,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Rigel Pharmaceuticals by 1,199.2% during the third quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock worth $340,000 after buying an additional 19,391 shares in the last quarter. 66.23% of the stock is currently owned by hedge funds and other 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.