Zacks: Brokerages Expect Rigel Pharmaceuticals, Inc. (RIGL) Will Announce Earnings of $0.03 Per Share

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Analysts forecast that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) will post $0.03 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Rigel Pharmaceuticals’ earnings, with estimates ranging from $0.02 to $0.04. Rigel Pharmaceuticals posted earnings per share of ($0.18) during the same quarter last year, which suggests a positive year-over-year growth rate of 116.7%. The business is expected to report its next earnings results on Tuesday, March 5th.

On average, analysts expect that Rigel Pharmaceuticals will report full year earnings of ($0.45) per share for the current financial year, with EPS estimates ranging from ($0.62) to ($0.37). For the next year, analysts anticipate that the business will post earnings of ($0.49) per share, with EPS estimates ranging from ($0.57) to ($0.30). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Rigel Pharmaceuticals.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $4.87 million during the quarter, compared to analyst estimates of $3.52 million.

A number of equities research analysts recently weighed in on RIGL shares. Cantor Fitzgerald reaffirmed a “buy” rating and set a $9.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, August 8th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $7.00 price objective on shares of Rigel Pharmaceuticals in a research report on Tuesday, September 4th. Citigroup started coverage on shares of Rigel Pharmaceuticals in a research report on Monday, August 27th. They set a “buy” rating and a $8.50 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Rigel Pharmaceuticals in a research report on Thursday, August 9th. Finally, BidaskClub downgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. Rigel Pharmaceuticals presently has an average rating of “Buy” and an average target price of $7.59.

In related news, insider Nelson Cabatuan sold 10,000 shares of the business’s stock in a transaction dated Friday, October 12th. The shares were sold at an average price of $3.12, for a total transaction of $31,200.00. Following the completion of the sale, the insider now owns 58 shares of the company’s stock, valued at approximately $180.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Anne-Marie Duliege sold 153,000 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $3.50, for a total transaction of $535,500.00. Following the sale, the executive vice president now directly owns 115,500 shares of the company’s stock, valued at approximately $404,250. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 314,000 shares of company stock valued at $907,820 and have sold 179,500 shares valued at $624,615. 5.38% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can bought a new position in Rigel Pharmaceuticals in the 2nd quarter worth about $139,000. Canada Pension Plan Investment Board bought a new position in Rigel Pharmaceuticals in the 2nd quarter worth about $142,000. Cubist Systematic Strategies LLC grew its position in Rigel Pharmaceuticals by 199.9% in the 2nd 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 during the last quarter. New Jersey Better Educational Savings Trust bought a new position in Rigel Pharmaceuticals in the 3rd quarter worth about $193,000. Finally, Lido Advisors LLC grew its position in Rigel Pharmaceuticals by 45.8% in the 2nd quarter. Lido Advisors LLC now owns 80,630 shares of the biotechnology company’s stock worth $228,000 after purchasing an additional 25,331 shares during the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.

Shares of Rigel Pharmaceuticals stock traded down $0.23 during trading on Friday, reaching $2.85. The company had a trading volume of 2,645,999 shares, compared to its average volume of 1,862,379. The firm has a market cap of $522.63 million, a PE ratio of -4.60 and a beta of 1.25. Rigel Pharmaceuticals has a fifty-two week low of $2.56 and a fifty-two 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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Earnings History and Estimates for Rigel Pharmaceuticals (NASDAQ:RIGL)

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