Equities research analysts forecast that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) will report earnings per share (EPS) of ($0.16) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Rigel Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.17) and the highest is ($0.15). Rigel Pharmaceuticals posted earnings per share of ($0.14) during the same quarter last year, which suggests a negative year over year growth rate of 14.3%. The company is scheduled to announce its next earnings report on Tuesday, November 6th.
On average, analysts expect that Rigel Pharmaceuticals will report full-year earnings of ($0.65) per share for the current fiscal year, with EPS estimates ranging from ($0.67) to ($0.62). For the next financial year, analysts forecast that the company will report earnings of ($0.54) per share, with EPS estimates ranging from ($0.64) to ($0.46). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Rigel Pharmaceuticals.
Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). The company had revenue of $1.79 million during the quarter, compared to analysts’ expectations of $0.30 million.
Several research analysts have weighed in on RIGL shares. Zacks Investment Research upgraded Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. BidaskClub downgraded Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Cantor Fitzgerald reiterated a “buy” rating and issued a $9.00 target price on shares of Rigel Pharmaceuticals in a research note on Wednesday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Rigel Pharmaceuticals in a research note on Thursday, August 9th. Finally, Citigroup started coverage on Rigel Pharmaceuticals in a research note on Monday, August 27th. They issued a “buy” rating and a $8.50 target price on the stock. Two investment analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $7.59.
Shares of RIGL stock opened at $3.27 on Thursday. Rigel Pharmaceuticals has a twelve month low of $2.28 and a twelve month high of $4.71. The company has a market capitalization of $567.57 million, a price-to-earnings ratio of -5.27 and a beta of 1.10.
In other Rigel Pharmaceuticals news, CEO Raul R. Rodriguez purchased 114,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were purchased at an average cost of $2.63 per share, for a total transaction of $299,820.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Eldon C. Mayer III purchased 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was acquired at an average price of $2.82 per share, for a total transaction of $282,000.00. The disclosure for this purchase can be found here. 5.38% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can purchased a new stake in Rigel Pharmaceuticals during the second quarter worth $139,000. Canada Pension Plan Investment Board purchased a new stake in Rigel Pharmaceuticals during the second quarter worth $142,000. Lido Advisors LLC purchased a new stake in Rigel Pharmaceuticals during the first quarter worth $195,000. Cubist Systematic Strategies LLC boosted its position in Rigel Pharmaceuticals by 199.9% during the second quarter. Cubist Systematic Strategies LLC now owns 60,559 shares of the biotechnology company’s stock worth $171,000 after purchasing an additional 40,366 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Rigel Pharmaceuticals during the first quarter worth $232,000. Institutional investors own 94.24% of the company’s stock.
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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