B. Riley Brokers Increase Earnings Estimates for RIGL

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Equities researchers at B. Riley boosted their FY2026 EPS estimates for shares of Rigel Pharmaceuticals in a research report issued on Tuesday, March 4th. B. Riley analyst K. Patel now anticipates that the biotechnology company will earn $1.08 per share for the year, up from their prior forecast of $0.97. B. Riley currently has a “Neutral” rating and a $24.00 target price on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $0.22 per share.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings data on Tuesday, March 4th. The biotechnology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.30 by $0.50. The company had revenue of $57.60 million during the quarter, compared to the consensus estimate of $57.59 million. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%.

Several other research analysts also recently commented on the stock. StockNews.com downgraded shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday. Piper Sandler raised their price objective on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday. 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. Finally, Citigroup raised their price target on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Rigel Pharmaceuticals Trading Up 4.2 %

RIGL opened at $20.52 on Thursday. The company has a 50 day moving average of $20.14 and a 200 day moving average of $18.43. The company has a market cap of $361.46 million, a PE ratio of 146.58 and a beta of 1.35. Rigel Pharmaceuticals has a 12 month low of $7.48 and a 12 month high of $29.82.

Institutional Trading of Rigel Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. PDT Partners LLC purchased a new position in Rigel Pharmaceuticals in the 3rd quarter worth $322,000. Los Angeles Capital Management LLC raised its position in Rigel Pharmaceuticals by 34.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company’s stock worth $1,205,000 after purchasing an additional 19,094 shares during the period. 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. Barclays PLC raised its position in Rigel Pharmaceuticals by 158.6% in the 3rd quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock worth $442,000 after purchasing an additional 16,772 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Rigel Pharmaceuticals by 45.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,238 shares of the biotechnology company’s stock worth $425,000 after purchasing an additional 8,140 shares during the period. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Insider Activity

In other news, CFO Dean L. Schorno sold 2,036 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $42,593.12. Following the sale, the chief financial officer now owns 58,969 shares in the company, valued at approximately $1,233,631.48. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Raul R. Rodriguez sold 4,952 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $103,595.84. Following the sale, the chief executive officer now owns 243,854 shares in the company, valued at approximately $5,101,425.68. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,113 shares of company stock worth $190,644. 9.04% of the stock is currently owned by corporate insiders.

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.