HC Wainwright Issues Optimistic Outlook for RIGL Earnings

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Stock analysts at HC Wainwright increased their Q4 2024 earnings estimates for shares of Rigel Pharmaceuticals in a research note issued on Tuesday, January 14th. HC Wainwright analyst J. Pantginis now expects that the biotechnology company will post earnings of $0.65 per share for the quarter, up from their prior forecast of $0.19. HC Wainwright has a “Buy” rating and a $57.00 price objective on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $0.17 per share. HC Wainwright also issued estimates for Rigel Pharmaceuticals’ FY2025 earnings at $1.46 EPS and FY2026 earnings at $2.72 EPS.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald boosted their target price on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler boosted their price objective on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Citigroup raised their target price 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. B. Riley boosted their price target on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, StockNews.com upgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

Rigel Pharmaceuticals Trading Up 16.0 %

RIGL stock opened at $20.13 on Friday. The firm has a 50 day moving average of $21.04 and a 200-day moving average of $15.75. The firm has a market capitalization of $354.49 million, a P/E ratio of 143.80 and a beta of 1.31. Rigel Pharmaceuticals has a 12 month low of $7.48 and a 12 month high of $29.82.

Institutional Trading of Rigel Pharmaceuticals

Institutional investors have recently modified their holdings of the company. PDT Partners LLC bought a new position in Rigel Pharmaceuticals during the 3rd quarter valued at approximately $322,000. Los Angeles Capital Management LLC raised its holdings in shares of Rigel Pharmaceuticals by 34.5% during the third quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company’s stock valued at $1,205,000 after acquiring an additional 19,094 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Rigel Pharmaceuticals by 29.7% in 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 acquiring an additional 22,443 shares during the period. State Street Corp boosted its holdings in Rigel Pharmaceuticals by 0.7% in the third quarter. State Street Corp now owns 367,795 shares of the biotechnology company’s stock valued at $5,951,000 after acquiring an additional 2,552 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Rigel Pharmaceuticals by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 399,663 shares of the biotechnology company’s stock valued at $6,468,000 after purchasing an additional 8,881 shares during the period. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

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.