Analysts forecast that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) will report earnings of $0.04 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Rigel Pharmaceuticals’ earnings, with the highest EPS estimate coming in at $0.04 and the lowest estimate coming in at $0.03. Rigel Pharmaceuticals reported earnings of ($0.18) per share in the same quarter last year, which would indicate a positive year over year growth rate of 122.2%. The firm is expected to issue its next earnings results on Tuesday, March 5th.
According to Zacks, analysts expect that Rigel Pharmaceuticals will report full year earnings of ($0.42) per share for the current fiscal year, with EPS estimates ranging from ($0.43) to ($0.41). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.53) per share, with EPS estimates ranging from ($0.57) to ($0.50). Zacks’ EPS averages are an average based on a survey of analysts that follow Rigel Pharmaceuticals.
Several research firms have issued reports on RIGL. HC Wainwright set a $8.00 price target on shares of Rigel Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, December 4th. Cantor Fitzgerald set a $9.00 price target on shares of Rigel Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, December 3rd. Finally, Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a report on Wednesday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $7.50.
Rigel Pharmaceuticals stock traded up $0.03 during mid-day trading on Monday, hitting $2.19. 1,309,099 shares of the stock were exchanged, compared to its average volume of 2,577,053. Rigel Pharmaceuticals has a 12 month low of $1.96 and a 12 month high of $4.68. The firm has a market cap of $359.94 million, a price-to-earnings ratio of -3.53 and a beta of 1.31.
Several large investors have recently added to or reduced their stakes in RIGL. BlackRock Inc. increased its stake in shares of Rigel Pharmaceuticals by 20.9% in the 2nd quarter. BlackRock Inc. now owns 13,392,367 shares of the biotechnology company’s stock valued at $37,901,000 after acquiring an additional 2,312,498 shares in the last quarter. Morgan Stanley increased its stake in shares of Rigel Pharmaceuticals by 87.0% in the 3rd quarter. Morgan Stanley now owns 2,710,087 shares of the biotechnology company’s stock valued at $8,699,000 after acquiring an additional 1,260,718 shares in the last quarter. Sofinnova Ventures Inc increased its stake in shares of Rigel Pharmaceuticals by 43.5% in the 3rd quarter. Sofinnova Ventures Inc now owns 3,260,931 shares of the biotechnology company’s stock valued at $10,467,000 after acquiring an additional 988,204 shares in the last quarter. Tamarack Advisers LP increased its stake in shares of Rigel Pharmaceuticals by 20.9% in the 4th quarter. Tamarack Advisers LP now owns 5,500,000 shares of the biotechnology company’s stock valued at $12,650,000 after acquiring an additional 950,000 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Rigel Pharmaceuticals in the 3rd quarter valued at $2,267,000. Institutional investors own 94.47% of the company’s stock.
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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