Cantor Fitzgerald Has Positive View of RIGL FY2025 Earnings

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Equities researchers at Cantor Fitzgerald increased their FY2025 earnings estimates for shares of Rigel Pharmaceuticals in a research note issued on Wednesday, November 5th. Cantor Fitzgerald analyst K. Kluska now anticipates that the biotechnology company will earn $6.89 per share for the year, up from their prior forecast of $5.17. Cantor Fitzgerald has a “Neutral” rating and a $38.00 price objective on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $0.22 per share. Cantor Fitzgerald also issued estimates for Rigel Pharmaceuticals’ FY2026 earnings at $3.80 EPS.

Other equities analysts also recently issued reports about the stock. Zacks Research upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, October 8th. Jefferies Financial Group raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and increased their target price for the company from $23.00 to $42.00 in a research report on Wednesday. Finally, Wall Street Zen lowered shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Rigel Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.83.

Rigel Pharmaceuticals Trading Down 2.6%

Shares of NASDAQ RIGL opened at $35.19 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.90. The stock has a market capitalization of $631.20 million, a P/E ratio of 6.50 and a beta of 1.22. Rigel Pharmaceuticals has a 1-year low of $14.63 and a 1-year high of $43.72. The business has a fifty day moving average price of $32.27 and a 200 day moving average price of $26.28.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.53. Rigel Pharmaceuticals had a return on equity of 438.89% and a net margin of 36.51%.The business had revenue of $69.46 million for the quarter, compared to analysts’ expectations of $61.88 million. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS.

Institutional Trading of Rigel Pharmaceuticals

Large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP increased its stake in Rigel Pharmaceuticals by 2.1% during the 3rd quarter. GSA Capital Partners LLP now owns 41,771 shares of the biotechnology company’s stock valued at $1,183,000 after purchasing an additional 850 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Rigel Pharmaceuticals by 251.5% during the third quarter. JPMorgan Chase & Co. now owns 34,960 shares of the biotechnology company’s stock valued at $990,000 after buying an additional 25,013 shares during the last quarter. LSV Asset Management increased its position in shares of Rigel Pharmaceuticals by 15.9% in the 3rd quarter. LSV Asset Management now owns 110,900 shares of the biotechnology company’s stock valued at $3,142,000 after acquiring an additional 15,200 shares during the period. Cibc World Market Inc. acquired a new position in shares of Rigel Pharmaceuticals in the 3rd quarter valued at $307,000. Finally, Alps Advisors Inc. purchased a new position in Rigel Pharmaceuticals in the 3rd quarter worth $578,000. Hedge funds and other institutional investors own 66.23% of the company’s stock.

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.