Rigel Pharmaceuticals (RIGL) Soars 39.21% on Strong Q1 Earnings

Rigel Pharmaceuticals (RIGL) shares surged 39.21% intraday, reaching their highest level since December 2024, with a 1.15% increase in the overall market.

The strategy of buying RIGL shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years. The 5-year return on this strategy was 2.19%, slightly underperforming the S&P 500's 5-year return of 8.09%. This suggests that while the strategy provided some growth, it was more conservative than the broader market's performance.

Rigel Pharmaceuticals reported robust first-quarter financial results for 2025, with net product sales increasing by 68% year-over-year to $43.6 million. This commercial strength was driven by the expansion of their market presence.

Rigel Pharmaceuticals exceeded the Zacks Consensus Estimate for Q1 earnings, reporting $0.63 per share compared to the expected $0.14 per share. This significant beat in earnings expectations has bolstered investor confidence in the company's financial performance.

Cantor Fitzgerald raised the price target for Rigel Pharmaceuticals from $20.00 to $23.00, indicating a positive outlook and a 15% increase in target valuation. This upward revision reflects the firm's optimism about the company's future prospects and growth potential.

Rigel Pharmaceuticals reaffirmed its FY25 revenue guidance of $200M-$210M, exceeding consensus expectations of $197.79M, and reported strong Q1 EPS of $0.63 versus $0.47 last year. This reaffirmation of revenue guidance and strong earnings performance has further solidified investor trust in the company's ability to deliver on its financial targets.