Equities analysts forecast that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) will announce sales of $28.29 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Rigel Pharmaceuticals’ earnings, with the highest sales estimate coming in at $38.74 million and the lowest estimate coming in at $4.83 million. The firm is scheduled to announce its next quarterly earnings report on Tuesday, March 5th.
According to Zacks, analysts expect that Rigel Pharmaceuticals will report full-year sales of $34.59 million for the current fiscal year, with estimates ranging from $10.10 million to $45.39 million. For the next financial year, analysts expect that the company will post sales of $33.96 million, with estimates ranging from $23.10 million to $42.07 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Rigel Pharmaceuticals.
Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.02. The business had revenue of $4.87 million during the quarter, compared to the consensus estimate of $3.52 million.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. 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 Wednesday. BidaskClub cut shares of Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Cantor Fitzgerald set a $9.00 price objective on shares of Rigel Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, October 29th. Finally, ValuEngine raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $7.59.
Shares of Rigel Pharmaceuticals stock traded down $0.23 during trading on Monday, reaching $2.85. The company’s stock had a trading volume of 2,645,999 shares, compared to its average volume of 1,862,379. The stock has a market cap of $522.63 million, a PE ratio of -4.60 and a beta of 1.25. Rigel Pharmaceuticals has a 52 week low of $2.56 and a 52 week high of $4.71.
In other news, CEO Raul R. Rodriguez acquired 114,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was acquired at an average price of $2.63 per share, with a total value of $299,820.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anne-Marie Duliege sold 153,000 shares of the company’s stock in a transaction dated Monday, September 17th. The stock was 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. Corporate insiders own 5.38% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of RIGL. Bank of Montreal Can acquired a new position in Rigel Pharmaceuticals during the second quarter worth about $139,000. Canada Pension Plan Investment Board acquired a new position in Rigel Pharmaceuticals during the second quarter worth about $142,000. Cubist Systematic Strategies LLC raised its stake in Rigel Pharmaceuticals by 199.9% during the second quarter. Cubist Systematic Strategies LLC now owns 60,559 shares of the biotechnology company’s stock worth $171,000 after acquiring an additional 40,366 shares in the last quarter. New Jersey Better Educational Savings Trust acquired a new position in Rigel Pharmaceuticals during the third quarter worth about $193,000. Finally, Lido Advisors LLC raised its stake in Rigel Pharmaceuticals by 45.8% during the second quarter. Lido Advisors LLC now owns 80,630 shares of the biotechnology company’s stock worth $228,000 after acquiring an additional 25,331 shares in the last quarter. 94.35% of the stock is owned by hedge funds and other institutional investors.
About Rigel Pharmaceuticals
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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