Wall Street brokerages expect Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) to report earnings per share of ($0.18) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for Rigel Pharmaceuticals’ earnings. Rigel Pharmaceuticals reported earnings per share of ($0.13) in the same quarter last year, which would indicate a negative year over year growth rate of 38.5%. The business is expected to issue its next quarterly earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that Rigel Pharmaceuticals will report full-year earnings of ($0.66) per share for the current year, with EPS estimates ranging from ($0.73) to ($0.58). For the next financial year, analysts anticipate that the company will report earnings of ($0.38) per share, with EPS estimates ranging from ($0.59) to ($0.03). Zacks’ EPS calculations are an average based on a survey of research analysts that follow Rigel Pharmaceuticals.
Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, March 6th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05). During the same quarter in the previous year, the company posted ($0.16) earnings per share.
RIGL has been the topic of a number of recent research reports. BidaskClub raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. ValuEngine raised Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Zacks Investment Research lowered Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, March 10th. Cantor Fitzgerald reiterated a “buy” rating and set a $7.00 price objective on shares of Rigel Pharmaceuticals in a research report on Tuesday, March 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Rigel Pharmaceuticals in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Rigel Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $5.71.
A number of large investors have recently made changes to their positions in RIGL. Wells Fargo & Company MN raised its stake in shares of Rigel Pharmaceuticals by 116.9% in the third quarter. Wells Fargo & Company MN now owns 414,745 shares of the biotechnology company’s stock worth $1,053,000 after purchasing an additional 223,528 shares during the last quarter. Vanguard Group Inc. grew its holdings in Rigel Pharmaceuticals by 6.1% during the second quarter. Vanguard Group Inc. now owns 6,039,790 shares of the biotechnology company’s stock valued at $16,489,000 after purchasing an additional 348,755 shares during the period. EAM Investors LLC bought a new stake in Rigel Pharmaceuticals during the fourth quarter valued at about $1,845,000. Virtus Fund Advisers LLC bought a new stake in Rigel Pharmaceuticals during the fourth quarter valued at about $383,000. Finally, Macquarie Group Ltd. grew its holdings in Rigel Pharmaceuticals by 15.6% during the third quarter. Macquarie Group Ltd. now owns 734,088 shares of the biotechnology company’s stock valued at $1,865,000 after purchasing an additional 99,088 shares during the period. Institutional investors and hedge funds own 92.82% of the company’s stock.
Rigel Pharmaceuticals (NASDAQ RIGL) traded down $0.07 during mid-day trading on Friday, hitting $3.97. The stock had a trading volume of 375,909 shares, compared to its average volume of 1,243,526. Rigel Pharmaceuticals has a 12 month low of $2.14 and a 12 month high of $4.71.
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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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