Cantor Fitzgerald Analysts Boost Earnings Estimates for RIGL

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Equities researchers at Cantor Fitzgerald lifted their FY2024 earnings estimates for Rigel Pharmaceuticals in a research report issued to clients and investors on Tuesday, January 14th. Cantor Fitzgerald analyst K. Kluska now forecasts that the biotechnology company will earn $0.33 per share for the year, up from their previous forecast of $0.19. Cantor Fitzgerald currently has a “Neutral” rating and a $25.00 target price on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $0.17 per share.

Several other research analysts have also weighed in on the company. B. Riley lifted their price objective on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. StockNews.com upgraded Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. Piper Sandler boosted their price target on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Tuesday. Finally, Citigroup boosted their target price on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Rigel Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $36.20.

Rigel Pharmaceuticals Stock Up 7.9 %

RIGL stock opened at $18.01 on Thursday. The firm has a market cap of $317.16 million, a price-to-earnings ratio of 128.65 and a beta of 1.31. The company’s fifty day simple moving average is $20.98 and its 200 day simple moving average is $15.59. Rigel Pharmaceuticals has a 12-month low of $7.48 and a 12-month high of $29.82.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of institutional investors have recently modified their holdings of RIGL. Franklin Resources Inc. acquired a new stake in Rigel Pharmaceuticals in the 3rd quarter valued at $193,000. Empire Financial Management Company LLC acquired a new position in shares of Rigel Pharmaceuticals during the third quarter valued at about $231,000. PDT Partners LLC bought a new stake in shares of Rigel Pharmaceuticals during the third quarter worth about $322,000. BNP Paribas Financial Markets raised its holdings in shares of Rigel Pharmaceuticals by 1,199.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock worth $340,000 after acquiring an additional 19,391 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted 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 valued at $425,000 after acquiring an additional 8,140 shares in the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

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.