B. Riley Expects Stronger Earnings for Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Stock analysts at B. Riley upped their FY2026 earnings per share (EPS) estimates for shares of Rigel Pharmaceuticals in a research report issued to clients and investors on Tuesday, March 4th. B. Riley analyst K. Patel now forecasts that the biotechnology company will post earnings per share of $1.08 for the year, up from their prior 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 quarterly earnings data on Tuesday, March 4th. The biotechnology company reported $0.80 EPS 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 the consensus estimate of $57.59 million.

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

Rigel Pharmaceuticals Stock Down 8.1 %

Rigel Pharmaceuticals stock opened at $20.29 on Thursday. Rigel Pharmaceuticals has a 12 month low of $7.48 and a 12 month high of $29.82. The company’s fifty day simple moving average is $20.01 and its 200-day simple moving average is $18.40. The stock has a market cap of $357.41 million, a P/E ratio of 144.94 and a beta of 1.35.

Institutional Investors Weigh In On Rigel Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in RIGL. Los Angeles Capital Management LLC lifted its holdings in shares of Rigel Pharmaceuticals by 34.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company’s stock worth $1,205,000 after acquiring an additional 19,094 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Rigel Pharmaceuticals by 29.7% during the third 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. FMR LLC boosted its holdings in Rigel Pharmaceuticals by 119.4% during the third 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 in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Rigel Pharmaceuticals by 1,199.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock valued at $340,000 after purchasing an additional 19,391 shares during the period. Finally, Stonepine Capital Management LLC raised its holdings in shares of Rigel Pharmaceuticals by 1.3% in the 3rd quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company’s stock worth $5,001,000 after buying an additional 4,100 shares in the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rigel Pharmaceuticals

In other news, CFO Dean L. Schorno sold 2,036 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total value 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 approximately $1,233,631.48. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Raul R. Rodriguez sold 4,952 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $103,595.84. Following the transaction, the chief executive officer now directly owns 243,854 shares in the company, valued at $5,101,425.68. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,113 shares of company stock worth $190,644 in the last 90 days. 9.04% of the stock is owned by company insiders.

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.