Rigel Pharmaceuticals (NASDAQ:RIGL) Posts Earnings Results, Beats Estimates By $0.50 EPS

Rigel Pharmaceuticals (NASDAQ:RIGL) issued its earnings results on Tuesday. The biotechnology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.50, Zacks reports. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. Rigel Pharmaceuticals updated its FY 2025 guidance to EPS.

Rigel Pharmaceuticals Stock Performance

Shares of NASDAQ:RIGL traded down $0.29 during trading on Tuesday, hitting $22.08. The company’s stock had a trading volume of 257,823 shares, compared to its average volume of 237,396. Rigel Pharmaceuticals has a fifty-two week low of $7.48 and a fifty-two week high of $29.82. The stock’s 50-day moving average price is $19.90 and its two-hundred day moving average price is $18.33. The company has a market capitalization of $388.94 million, a PE ratio of 157.73 and a beta of 1.34.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RIGL. Citigroup raised their price target on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com cut Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. Cantor Fitzgerald boosted their target price 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. B. Riley upped their price target on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research note on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.20.

Insiders Place Their Bets

In other news, EVP David A. Santos sold 2,125 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $44,455.00. Following the transaction, the executive vice president now directly owns 53,500 shares in the company, valued at approximately $1,119,220. This trade represents a 3.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Raul R. Rodriguez sold 4,952 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $103,595.84. Following the completion of the transaction, the chief executive officer now directly owns 243,854 shares in the company, valued at $5,101,425.68. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,113 shares of company stock worth $190,644 in the last three months. 9.04% of the stock is owned by insiders.

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.