Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Receives $43.20 Consensus PT from Brokerages

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $43.20.

RIGL has been the topic of a number of analyst reports. 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a report on Wednesday, October 8th. Cantor Fitzgerald boosted their target price on Rigel Pharmaceuticals from $32.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Wall Street Zen lowered Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Zacks Research upgraded Rigel Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC raised its stake in shares of Rigel Pharmaceuticals by 234.8% during the third quarter. AlphaQuest LLC now owns 1,105 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 775 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Rigel Pharmaceuticals during the 3rd quarter valued at about $62,000. RMG Wealth Management LLC purchased a new position in Rigel Pharmaceuticals during the 2nd quarter valued at about $41,000. Virtus Advisers LLC bought a new position in Rigel Pharmaceuticals during the 1st quarter valued at approximately $40,000. Finally, Wexford Capital LP purchased a new stake in Rigel Pharmaceuticals in the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Up 2.8%

Shares of RIGL opened at $50.96 on Monday. Rigel Pharmaceuticals has a 1 year low of $14.63 and a 1 year high of $51.73. 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 50 day simple moving average of $33.70 and a two-hundred day simple moving average of $28.57. The firm has a market cap of $924.97 million, a P/E ratio of 9.42 and a beta of 1.22.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.53. Rigel Pharmaceuticals had a net margin of 36.51% and a return on equity of 438.89%. The firm had revenue of $69.46 million during the quarter, compared to analyst estimates of $61.88 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.

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.