Wall Street analysts predict that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) will announce earnings per share (EPS) of $0.03 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Rigel Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.04. Rigel Pharmaceuticals reported earnings of ($0.18) per share during the same quarter last year, which suggests a positive year over year growth rate of 116.7%. The business is scheduled to announce its next quarterly earnings report on Tuesday, March 5th.
On average, analysts expect that Rigel Pharmaceuticals will report full year earnings of ($0.43) per share for the current year, with EPS estimates ranging from ($0.44) to ($0.41). For the next financial year, analysts expect that the firm will post earnings of ($0.53) per share, with EPS estimates ranging from ($0.57) to ($0.50). Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Rigel Pharmaceuticals.
Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The firm had revenue of $4.87 million for the quarter, compared to the consensus estimate of $3.52 million.
RIGL has been the topic of a number of recent research reports. Cantor Fitzgerald reissued a “buy” rating and set a $9.00 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 3rd. HC Wainwright set a $8.00 price target on Rigel Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, October 29th. BidaskClub raised Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Finally, ValuEngine cut Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, December 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $7.50.
A number of institutional investors have recently added to or reduced their stakes in RIGL. FMR LLC raised its stake in Rigel Pharmaceuticals by 11.1% in the second quarter. FMR LLC now owns 24,537,044 shares of the biotechnology company’s stock valued at $69,440,000 after buying an additional 2,448,925 shares during the last quarter. BlackRock Inc. raised its stake in Rigel Pharmaceuticals by 20.9% in the second quarter. BlackRock Inc. now owns 13,392,367 shares of the biotechnology company’s stock valued at $37,901,000 after buying an additional 2,312,498 shares during the last quarter. Sio Capital Management LLC purchased a new stake in Rigel Pharmaceuticals in the second quarter valued at about $3,958,000. Morgan Stanley raised its stake in Rigel Pharmaceuticals by 87.0% in the third quarter. Morgan Stanley now owns 2,710,087 shares of the biotechnology company’s stock valued at $8,699,000 after buying an additional 1,260,718 shares during the last quarter. Finally, Sofinnova Ventures Inc raised its stake in Rigel Pharmaceuticals by 43.5% in the third quarter. Sofinnova Ventures Inc now owns 3,260,931 shares of the biotechnology company’s stock valued at $10,467,000 after buying an additional 988,204 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.
RIGL opened at $2.20 on Friday. Rigel Pharmaceuticals has a 12-month low of $1.96 and a 12-month high of $4.71. The firm has a market cap of $398.27 million, a PE ratio of -3.55 and a beta of 1.43.
About Rigel Pharmaceuticals
Rigel Pharmaceuticals, Inc, a biotechnology company, engages in the discovery and development of small molecule drugs for the treatment of immune and hematologic disorders, cancer, and rare diseases. The company's clinical programs include fostamatinib, an oral spleen tyrosine kinase inhibitor for immune thrombocytopenia purpura; and Phase II clinical study for autoimmune hemolytic anemia and immunoglobulin a nephropathy.
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