B. Riley Raises Earnings Estimates for Rigel Pharmaceuticals

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

Other analysts also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a research note on Wednesday. Citigroup lifted their target price on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler upped their price target on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. StockNews.com downgraded shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. Finally, Cantor Fitzgerald increased their target price on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Rigel Pharmaceuticals Trading Down 2.9 %

RIGL opened at $19.70 on Thursday. The stock has a market capitalization of $347.02 million, a P/E ratio of 140.72 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 firm’s fifty day simple moving average is $20.09 and its 200 day simple moving average is $18.42.

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

Insider Transactions at Rigel Pharmaceuticals

In related news, CEO Raul R. Rodriguez sold 4,952 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total value of $103,595.84. Following the sale, the chief executive officer now owns 243,854 shares in the company, valued at approximately $5,101,425.68. This represents a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dean L. Schorno sold 2,036 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $42,593.12. Following the sale, the chief financial officer now owns 58,969 shares of the company’s stock, valued at approximately $1,233,631.48. This represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,113 shares of company stock worth $190,644 in the last 90 days. Corporate insiders own 9.04% of the company’s stock.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. acquired a new position in shares of Rigel Pharmaceuticals in the fourth quarter valued at approximately $63,000. Wells Fargo & Company MN boosted its stake in Rigel Pharmaceuticals by 44.5% in the 4th quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 2,648 shares during the period. SG Americas Securities LLC grew its holdings in Rigel Pharmaceuticals by 42.8% in the 4th quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 2,827 shares in the last quarter. Graham Capital Management L.P. bought a new position in Rigel Pharmaceuticals during the 4th quarter worth $170,000. Finally, Integrated Quantitative Investments LLC bought a new position in Rigel Pharmaceuticals during the 4th quarter worth $181,000. 66.23% of the stock is currently owned by institutional investors and hedge funds.

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.