Cantor Fitzgerald Has Positive View of RIGL FY2025 Earnings

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Research analysts at Cantor Fitzgerald increased their FY2025 EPS estimates for Rigel Pharmaceuticals in a report 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 estimate of $5.17. Cantor Fitzgerald currently has a “Neutral” rating and a $38.00 target price 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.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly 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. The company had revenue of $69.46 million for the quarter, compared to analyst estimates of $61.88 million. Rigel Pharmaceuticals had a net margin of 36.51% and a return on equity of 438.89%. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS.

Several other research analysts also recently issued reports on RIGL. Jefferies Financial Group upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the stock from $23.00 to $42.00 in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Rigel Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.83.

Rigel Pharmaceuticals Stock Performance

Shares of Rigel Pharmaceuticals stock opened at $36.12 on Friday. The company’s 50 day moving average price is $32.35 and its two-hundred day moving average price is $26.16. The firm has a market capitalization of $647.88 million, a P/E ratio of 6.68 and a beta of 1.22. Rigel Pharmaceuticals has a fifty-two week low of $14.63 and a fifty-two week high of $43.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.90.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC lifted its stake in shares of Rigel Pharmaceuticals by 234.8% in the third quarter. AlphaQuest LLC now owns 1,105 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 775 shares during the period. Virtus Advisers LLC acquired a new stake in Rigel Pharmaceuticals during the 1st quarter valued at approximately $40,000. RMG Wealth Management LLC bought a new position in Rigel Pharmaceuticals during the 2nd quarter worth approximately $41,000. Laurel Wealth Advisors LLC raised its holdings in Rigel Pharmaceuticals by 1,773.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 2,810 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 2,660 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Rigel Pharmaceuticals by 130.7% in the 2nd quarter. Legal & General Group Plc now owns 4,310 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 2,442 shares during the period. 66.23% of the stock is currently owned by institutional investors.

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.