Analysts expect Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) to post ($0.16) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Rigel Pharmaceuticals’ earnings, with estimates ranging from ($0.17) to ($0.15). Rigel Pharmaceuticals reported earnings per share of ($0.14) during the same quarter last year, which would indicate a negative year-over-year growth rate of 14.3%. The company is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, November 6th.
On average, analysts expect that Rigel Pharmaceuticals will report full year earnings of ($0.64) per share for the current fiscal year, with EPS estimates ranging from ($0.66) to ($0.62). For the next fiscal year, analysts anticipate that the firm 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 an average based on a survey of research analysts that that provide coverage for Rigel Pharmaceuticals.
Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $1.79 million for the quarter, compared to analysts’ expectations of $0.30 million.
Several research firms have weighed in on RIGL. Zacks Investment Research cut shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Cantor Fitzgerald reiterated a “buy” rating and set a $9.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, August 8th. HC Wainwright set a $8.00 price objective on shares of Rigel Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, October 11th. BidaskClub cut shares of Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Finally, ValuEngine upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Two investment analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $7.59.
In related news, CEO Raul R. Rodriguez purchased 114,000 shares of the stock in a transaction dated Friday, August 17th. The shares were acquired at an average cost of $2.63 per share, for a total transaction of $299,820.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nelson Cabatuan sold 10,000 shares of the business’s stock in a transaction on Friday, October 12th. The shares were sold at an average price of $3.12, for a total transaction of $31,200.00. Following the transaction, the insider now owns 58 shares in the company, valued at $180.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 314,000 shares of company stock worth $907,820 and have sold 179,500 shares worth $624,615. Insiders own 5.38% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new stake in shares of Rigel Pharmaceuticals in the 2nd quarter valued at $139,000. Canada Pension Plan Investment Board acquired a new stake in shares of Rigel Pharmaceuticals in the 2nd quarter valued at $142,000. Cubist Systematic Strategies LLC lifted its stake in shares of Rigel Pharmaceuticals by 199.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 60,559 shares of the biotechnology company’s stock valued at $171,000 after purchasing an additional 40,366 shares during the last quarter. New Jersey Better Educational Savings Trust acquired a new stake in shares of Rigel Pharmaceuticals in the 3rd quarter valued at $193,000. Finally, Lido Advisors LLC lifted its stake in shares of Rigel Pharmaceuticals by 45.8% in the 2nd quarter. Lido Advisors LLC now owns 80,630 shares of the biotechnology company’s stock valued at $228,000 after purchasing an additional 25,331 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.
NASDAQ RIGL traded up $0.08 on Friday, hitting $3.03. 1,063,088 shares of the stock were exchanged, compared to its average volume of 2,330,268. Rigel Pharmaceuticals has a 52-week low of $2.56 and a 52-week high of $4.71.
Rigel Pharmaceuticals Company Profile
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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