Cantor Fitzgerald Forecasts RIGL FY2025 Earnings

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

Several other analysts have also commented on RIGL. StockNews.com raised Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a report on Tuesday, January 14th. Citigroup lifted 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. Piper Sandler lifted their price target on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, B. Riley increased their price target on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rigel Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Rigel Pharmaceuticals Price Performance

Rigel Pharmaceuticals stock opened at $21.81 on Wednesday. The business’s fifty day moving average is $20.83 and its 200 day moving average is $15.99. The stock has a market capitalization of $384.07 million, a PE ratio of 155.80 and a beta of 1.31. Rigel Pharmaceuticals has a one year low of $7.48 and a one year high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.69. The company had revenue of $55.31 million during the quarter, compared to analysts’ expectations of $40.69 million. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. During the same period last year, the company posted ($0.30) EPS.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in RIGL. Assenagon Asset Management S.A. purchased a new position in Rigel Pharmaceuticals in the third quarter worth about $7,148,000. FMR LLC grew its holdings in Rigel Pharmaceuticals by 119.4% during 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. raised its position 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 worth $1,586,000 after purchasing an additional 22,443 shares during the period. PDT Partners LLC bought a new stake in Rigel Pharmaceuticals in the third quarter worth about $322,000. Finally, BNP Paribas Financial Markets grew its stake 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 valued at $340,000 after buying an additional 19,391 shares during the last quarter. 66.23% of the stock is 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.