Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Receives Consensus Recommendation of “Hold” from Analysts

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has been given a consensus rating of “Hold” by the seven research firms that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $38.20.

Several research analysts recently commented on the stock. Zacks Research downgraded Rigel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Cantor Fitzgerald upped their price objective on shares of Rigel Pharmaceuticals from $23.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. HC Wainwright reiterated a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a report on Wednesday, October 8th.

Rigel Pharmaceuticals Trading Down 1.0%

Rigel Pharmaceuticals stock opened at $29.40 on Thursday. The company’s fifty day moving average price is $33.32 and its two-hundred day moving average price is $25.56. The company has a market capitalization of $527.44 million, a price-to-earnings ratio of 5.43 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.90. Rigel Pharmaceuticals has a one year low of $13.57 and a one year high of $43.72.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Tuesday, August 5th. The biotechnology company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $1.31. Rigel Pharmaceuticals had a return on equity of 438.89% and a net margin of 36.51%.The firm had revenue of $101.69 million for the quarter, compared to the consensus estimate of $64.58 million. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS. On average, analysts forecast that Rigel Pharmaceuticals will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rigel Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Rigel Pharmaceuticals during the first quarter valued at $488,000. Strs Ohio acquired a new stake in shares of Rigel Pharmaceuticals in the first quarter valued at about $389,000. Acadian Asset Management LLC boosted its holdings in Rigel Pharmaceuticals by 50.1% in the 1st quarter. Acadian Asset Management LLC now owns 565,045 shares of the biotechnology company’s stock worth $10,161,000 after buying an additional 188,679 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Rigel Pharmaceuticals by 7.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 217,776 shares of the biotechnology company’s stock worth $3,918,000 after acquiring an additional 15,687 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Rigel Pharmaceuticals during the 1st quarter worth $804,000. 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.