Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Receives $38.20 Average Target Price from Analysts

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have earned an average recommendation of “Hold” from the five ratings firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $38.20.

Separately, Cantor Fitzgerald upped their target price on Rigel Pharmaceuticals from $23.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RIGL. RMG Wealth Management LLC acquired a new position in Rigel Pharmaceuticals in the second quarter worth $41,000. Virtus Advisers LLC bought a new position in shares of Rigel Pharmaceuticals in the 1st quarter worth about $40,000. Laurel Wealth Advisors LLC boosted its holdings in shares of Rigel Pharmaceuticals by 1,773.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 2,810 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 2,660 shares during the period. Legal & General Group Plc boosted its holdings 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 valued at $81,000 after buying an additional 2,442 shares during the period. Finally, US Bancorp DE raised its stake in Rigel Pharmaceuticals by 57.4% during the first quarter. US Bancorp DE now owns 5,120 shares of the biotechnology company’s stock worth $92,000 after acquiring an additional 1,868 shares during the period. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals Trading Up 0.4%

Shares of RIGL stock opened at $37.96 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. Rigel Pharmaceuticals has a fifty-two week low of $13.01 and a fifty-two week high of $43.72. The firm’s 50 day moving average price is $30.15 and its two-hundred day moving average price is $22.99. The stock has a market cap of $681.00 million, a price-to-earnings ratio of 7.02 and a beta of 1.27.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its earnings results on Tuesday, August 5th. The biotechnology company reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $1.31. The business had revenue of $101.69 million for the quarter, compared to the consensus estimate of $64.58 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. On average, analysts anticipate that Rigel Pharmaceuticals will post 0.22 EPS for the current 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.