Rigel Pharmaceuticals (NASDAQ:RIGL) Receives “Hold (C+)” Rating from Weiss Ratings

Rigel Pharmaceuticals (NASDAQ:RIGL)‘s stock had its “hold (c+)” rating reiterated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently commented on RIGL. Zacks Research downgraded shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday. HC Wainwright reiterated a “buy” rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday. Finally, Cantor Fitzgerald lifted their target price on shares of Rigel Pharmaceuticals from $23.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.20.

Rigel Pharmaceuticals Trading Down 2.5%

RIGL opened at $28.76 on Wednesday. The company’s 50 day moving average is $34.34 and its 200-day moving average is $24.29. Rigel Pharmaceuticals has a 1-year low of $13.57 and a 1-year high of $43.72. The company has a current ratio of 2.02, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. The company has a market cap of $515.95 million, a P/E ratio of 5.32 and a beta of 1.20.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Tuesday, August 5th. The biotechnology company reported $3.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $1.31. Rigel Pharmaceuticals had a net margin of 36.51% and a return on equity of 438.89%. The company had revenue of $101.69 million for the quarter, compared to the consensus estimate of $64.58 million. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts predict that Rigel Pharmaceuticals will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Armistice Capital LLC lifted its position in shares of Rigel Pharmaceuticals by 5.5% in the 2nd quarter. Armistice Capital LLC now owns 1,600,000 shares of the biotechnology company’s stock worth $29,968,000 after purchasing an additional 84,000 shares during the period. Vanguard Group Inc. lifted its position in shares of Rigel Pharmaceuticals by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,028,072 shares of the biotechnology company’s stock worth $18,495,000 after purchasing an additional 15,141 shares during the period. Acadian Asset Management LLC lifted its position in shares of Rigel Pharmaceuticals by 10.3% in the 2nd quarter. Acadian Asset Management LLC now owns 623,004 shares of the biotechnology company’s stock worth $11,664,000 after purchasing an additional 57,959 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Rigel Pharmaceuticals by 27.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 522,781 shares of the biotechnology company’s stock worth $9,405,000 after purchasing an additional 112,003 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Rigel Pharmaceuticals by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 415,607 shares of the biotechnology company’s stock worth $7,786,000 after purchasing an additional 4,439 shares during the period. Institutional investors and hedge funds own 66.23% of the company’s stock.

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.