Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Equities researchers at Cantor Fitzgerald issued their FY2017 earnings per share (EPS) estimates for Rigel Pharmaceuticals in a note issued to investors on Monday, Zacks Investment Research reports. Cantor Fitzgerald analyst E. Piros forecasts that the biotechnology company will post earnings of ($0.57) per share for the year. Cantor Fitzgerald has a “Overweight” rating and a $6.00 price target on the stock. Cantor Fitzgerald also issued estimates for Rigel Pharmaceuticals’ FY2018 earnings at ($0.65) EPS.
Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.01. The company had revenue of $0.90 million for the quarter. During the same quarter in the prior year, the business earned ($0.24) earnings per share. The company’s revenue for the quarter was down 76.1% compared to the same quarter last year.
A number of other equities analysts have also issued reports on the stock. BidaskClub raised shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $6.00 target price on shares of Rigel Pharmaceuticals in a research report on Thursday, December 21st. ValuEngine lowered shares of Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. HC Wainwright set a $7.00 target price on shares of Rigel Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, Zacks Investment Research raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a report on Saturday, November 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Rigel Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $5.54.
Shares of Rigel Pharmaceuticals (NASDAQ:RIGL) traded down $0.09 during mid-day trading on Wednesday, reaching $4.07. 2,347,083 shares of the company were exchanged, compared to its average volume of 1,451,297. Rigel Pharmaceuticals has a fifty-two week low of $1.94 and a fifty-two week high of $4.47. The company has a market capitalization of $609.40, a price-to-earnings ratio of -6.90 and a beta of 1.28.
Institutional investors have recently made changes to their positions in the business. AXA bought a new stake in Rigel Pharmaceuticals in the 2nd quarter valued at $122,000. Voya Investment Management LLC boosted its stake in shares of Rigel Pharmaceuticals by 30.4% in the 2nd quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock valued at $146,000 after purchasing an additional 12,500 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Rigel Pharmaceuticals by 415.2% in the 3rd quarter. SG Americas Securities LLC now owns 59,401 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 47,872 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Rigel Pharmaceuticals in the 2nd quarter valued at $193,000. Finally, State of Wisconsin Investment Board acquired a new stake in shares of Rigel Pharmaceuticals in the 2nd quarter valued at $232,000. 74.51% of the stock is currently owned by hedge funds and other institutional investors.
In other Rigel Pharmaceuticals news, CFO Ryan D. Maynard sold 100,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $3.90, for a total value of $390,000.00. Following the sale, the chief financial officer now owns 100,000 shares of the company’s stock, valued at approximately $390,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.21% of the company’s stock.
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Rigel Pharmaceuticals Company Profile
Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.
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