Brokerages Expect Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Will Post Earnings of -$0.13 Per Share

Equities research analysts forecast that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) will announce ($0.13) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Rigel Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.16) and the highest is ($0.11). Rigel Pharmaceuticals reported earnings per share of ($0.11) during the same quarter last year, which would suggest a negative year-over-year growth rate of 18.2%. The firm is scheduled to announce its next earnings results on Tuesday, March 1st.

On average, analysts expect that Rigel Pharmaceuticals will report full year earnings of ($0.10) per share for the current fiscal year, with EPS estimates ranging from ($0.14) to ($0.08). For the next year, analysts anticipate that the company will post earnings of ($0.43) per share, with EPS estimates ranging from ($0.48) to ($0.40). Zacks’ earnings per share averages are an average based on a survey of analysts that follow Rigel Pharmaceuticals.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Tuesday, November 2nd. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). Rigel Pharmaceuticals had a negative net margin of 9.85% and a negative return on equity of 25.22%. The business had revenue of $21.54 million for the quarter, compared to analysts’ expectations of $24.16 million. During the same quarter in the previous year, the firm earned ($0.08) EPS.

A number of equities research analysts have weighed in on the company. TheStreet lowered Rigel Pharmaceuticals from a “c-” rating to a “d+” rating in a research report on Wednesday, December 8th. Zacks Investment Research lowered Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 6th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Rigel Pharmaceuticals in a research report on Tuesday, September 28th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $8.00 price target on shares of Rigel Pharmaceuticals in a research report on Monday, November 8th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC acquired a new position in Rigel Pharmaceuticals during the 2nd quarter valued at about $3,068,000. Pinz Capital Management LP acquired a new position in Rigel Pharmaceuticals during the 2nd quarter valued at about $130,000. Price T Rowe Associates Inc. MD increased its position in Rigel Pharmaceuticals by 29.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 56,847 shares of the biotechnology company’s stock valued at $247,000 after buying an additional 12,895 shares in the last quarter. Virtus ETF Advisers LLC increased its position in Rigel Pharmaceuticals by 24.2% during the 2nd quarter. Virtus ETF Advisers LLC now owns 114,256 shares of the biotechnology company’s stock valued at $496,000 after buying an additional 22,285 shares in the last quarter. Finally, Summit Global Investments acquired a new position in Rigel Pharmaceuticals during the 3rd quarter valued at about $801,000. 80.62% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ RIGL opened at $2.42 on Wednesday. The company has a quick ratio of 2.77, a current ratio of 2.89 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $2.71 and a two-hundred day simple moving average of $3.42. The firm has a market cap of $413.83 million, a PE ratio of -26.89 and a beta of 1.42. Rigel Pharmaceuticals has a twelve month low of $2.27 and a twelve month high of $5.50.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc operates as a clinical stage biotechnology company. It discovers and develops novel, targeted drugs in the therapeutic areas of immunology, oncology and immune oncology. The firm focuses on intracellular signalling pathways and related targets that are critical to disease mechanisms.

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Earnings History and Estimates for Rigel Pharmaceuticals (NASDAQ:RIGL)

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