Brokers Set Expectations for Rigel Pharmaceuticals, Inc.’s FY2017 Earnings (RIGL)

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Equities researchers at Cantor Fitzgerald issued their FY2017 earnings per share estimates for shares of Rigel Pharmaceuticals in a research report issued on Monday, according to Zacks Investment Research. Cantor Fitzgerald analyst E. Piros anticipates that the biotechnology company will post earnings per share of ($0.57) for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $6.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Rigel Pharmaceuticals’ FY2018 earnings at ($0.65) EPS.

A number of other research analysts have also recently issued reports on RIGL. BidaskClub raised Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. ValuEngine raised Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Monday, October 2nd. Jefferies Group reissued a “buy” rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a research note on Wednesday, October 4th. Zacks Investment Research upgraded Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, BMO Capital Markets restated a “buy” rating and issued a $5.00 price target on shares of Rigel Pharmaceuticals in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Rigel Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $5.54.

Rigel Pharmaceuticals (NASDAQ RIGL) traded down $0.09 during trading hours on Wednesday, reaching $4.07. The company’s stock had a trading volume of 2,347,083 shares, compared to its average volume of 1,225,389. Rigel Pharmaceuticals has a 1 year low of $1.94 and a 1 year high of $4.47. The firm has a market capitalization of $615.26, a PE ratio of -6.90 and a beta of 1.28.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $0.90 million during the quarter. During the same period last year, the firm posted ($0.24) earnings per share. The company’s revenue for the quarter was down 76.1% on a year-over-year basis.

In other news, CFO Ryan D. Maynard sold 100,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $3.90, for a total value of $390,000.00. Following the sale, the chief financial officer now directly owns 100,000 shares in the company, valued at $390,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.21% of the company’s stock.

Several institutional investors have recently modified their holdings of RIGL. Teachers Advisors LLC lifted its holdings in shares of Rigel Pharmaceuticals by 30.6% in the first quarter. Teachers Advisors LLC now owns 278,553 shares of the biotechnology company’s stock valued at $922,000 after purchasing an additional 65,185 shares in the last quarter. Vanguard Group Inc. raised its holdings in Rigel Pharmaceuticals by 20.3% during the first quarter. Vanguard Group Inc. now owns 5,691,035 shares of the biotechnology company’s stock worth $18,837,000 after acquiring an additional 960,345 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Rigel Pharmaceuticals by 32.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 268,000 shares of the biotechnology company’s stock worth $888,000 after acquiring an additional 66,400 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Rigel Pharmaceuticals by 58.9% during the first quarter. Metropolitan Life Insurance Co. NY now owns 93,287 shares of the biotechnology company’s stock worth $309,000 after acquiring an additional 34,561 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Rigel Pharmaceuticals by 6.0% during the second quarter. Rhumbline Advisers now owns 139,814 shares of the biotechnology company’s stock worth $382,000 after acquiring an additional 7,910 shares in the last quarter. Institutional investors own 74.51% of the company’s stock.

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About Rigel Pharmaceuticals

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

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