B. Riley Raises Earnings Estimates for Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Research analysts at B. Riley boosted their FY2026 EPS estimates for Rigel Pharmaceuticals in a research report issued on Tuesday, March 4th. B. Riley analyst K. Patel now expects that the biotechnology company will earn $1.08 per share for the year, up from their previous estimate of $0.97. B. Riley has a “Neutral” rating and a $24.00 price objective on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $0.22 per share.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.30 by $0.50. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. The company had revenue of $57.60 million for the quarter, compared to analysts’ expectations of $57.59 million.

Several other analysts have also recently commented on RIGL. Piper Sandler increased their price target 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. Citigroup increased their price objective on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com cut Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a research note on Wednesday. Finally, Cantor Fitzgerald boosted their price objective on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.60.

Rigel Pharmaceuticals Stock Down 8.1 %

Shares of NASDAQ:RIGL opened at $20.29 on Thursday. The firm has a market cap of $357.41 million, a P/E ratio of 144.94 and a beta of 1.35. Rigel Pharmaceuticals has a 12 month low of $7.48 and a 12 month high of $29.82. The company’s 50-day moving average price is $20.01 and its two-hundred day moving average price is $18.40.

Insider Buying and Selling

In related news, CEO Raul R. Rodriguez sold 4,952 shares of Rigel Pharmaceuticals 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dean L. Schorno sold 2,036 shares of the company’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 $42,593.12. Following the completion of the sale, the chief financial officer now directly owns 58,969 shares of the company’s stock, valued at $1,233,631.48. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,113 shares of company stock valued at $190,644 over the last three months. Company insiders own 9.04% of the company’s stock.

Institutional Trading of Rigel Pharmaceuticals

A number of large investors have recently made changes to their positions in RIGL. China Universal Asset Management Co. Ltd. bought a new stake in shares of Rigel Pharmaceuticals in the fourth quarter worth about $63,000. Wells Fargo & Company MN boosted its holdings in shares of Rigel Pharmaceuticals by 44.5% in the fourth quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 2,648 shares during the period. SG Americas Securities LLC raised its holdings in shares of Rigel Pharmaceuticals by 42.8% during the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock worth $159,000 after acquiring an additional 2,827 shares during the period. Graham Capital Management L.P. bought a new stake in Rigel Pharmaceuticals in the 4th quarter valued at $170,000. Finally, Integrated Quantitative Investments LLC acquired a new position in Rigel Pharmaceuticals in the 4th quarter worth $181,000. 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.