Rigel Pharmaceuticals (NASDAQ:RIGL) Posts Earnings Results, Beats Estimates By $0.50 EPS

Rigel Pharmaceuticals (NASDAQ:RIGL) posted its quarterly earnings data on Tuesday. The biotechnology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.50, Zacks reports. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. Rigel Pharmaceuticals updated its FY 2025 guidance to EPS.

Rigel Pharmaceuticals Trading Down 1.3 %

Shares of NASDAQ RIGL traded down $0.29 during mid-day trading on Tuesday, hitting $22.08. The company had a trading volume of 254,965 shares, compared to its average volume of 235,943. Rigel Pharmaceuticals has a 1 year low of $7.48 and a 1 year high of $29.82. The company has a market capitalization of $388.94 million, a price-to-earnings ratio of 157.73 and a beta of 1.34. The stock’s 50-day moving average price is $19.90 and its 200-day moving average price is $18.33.

Analysts Set New Price Targets

Several research firms recently issued reports on RIGL. StockNews.com lowered shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. Piper Sandler lifted their price objective on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. HC Wainwright reissued a “buy” rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research note on Wednesday, January 22nd. Cantor Fitzgerald lifted their price target on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, B. Riley increased their price objective on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Rigel Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Insider Buying and Selling

In other news, CFO Dean L. Schorno sold 2,036 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $42,593.12. Following the sale, the chief financial officer now directly owns 58,969 shares of the company’s stock, valued at approximately $1,233,631.48. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Raul R. Rodriguez sold 4,952 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $103,595.84. Following the completion of the transaction, the chief executive officer now owns 243,854 shares of the company’s stock, valued at $5,101,425.68. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,113 shares of company stock valued at $190,644. Corporate insiders own 9.04% 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.