Equities analysts expect that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) will post earnings of ($0.13) per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Rigel Pharmaceuticals’ earnings, with estimates ranging from ($0.14) to ($0.12). Rigel Pharmaceuticals reported earnings of ($0.17) per share in the same quarter last year, which would suggest a positive year over year growth rate of 23.5%. The business is scheduled to issue its next quarterly earnings report on Tuesday, May 7th.

On average, analysts expect that Rigel Pharmaceuticals will report full year earnings of ($0.44) per share for the current year, with EPS estimates ranging from ($0.57) to ($0.32). For the next fiscal year, analysts forecast that the company will report earnings of ($0.38) per share, with EPS estimates ranging from ($0.44) to ($0.32). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Rigel Pharmaceuticals.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Thursday, February 28th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The company had revenue of $37.86 million for the quarter, compared to analyst estimates of $36.59 million.

Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, February 1st. ValuEngine lowered shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, December 21st. HC Wainwright set a $8.00 price target on shares of Rigel Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, January 11th. BidaskClub lowered shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 16th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $7.00 price target (down previously from $9.00) on shares of Rigel Pharmaceuticals in a research report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $7.29.

Shares of NASDAQ RIGL traded up $0.05 during trading hours on Friday, hitting $2.37. 2,057,631 shares of the stock were exchanged, compared to its average volume of 1,938,023. The firm has a market capitalization of $396.21 million, a price-to-earnings ratio of -5.39 and a beta of 1.28. Rigel Pharmaceuticals has a 1-year low of $1.96 and a 1-year high of $4.38.

A number of institutional investors have recently modified their holdings of the business. FMR LLC boosted its position in Rigel Pharmaceuticals by 1.8% in the third quarter. FMR LLC now owns 24,966,516 shares of the biotechnology company’s stock valued at $80,143,000 after buying an additional 429,472 shares in the last quarter. BlackRock Inc. boosted its position in Rigel Pharmaceuticals by 0.7% in the fourth quarter. BlackRock Inc. now owns 13,724,460 shares of the biotechnology company’s stock valued at $31,567,000 after buying an additional 89,356 shares in the last quarter. Vanguard Group Inc boosted its position in Rigel Pharmaceuticals by 0.6% in the third quarter. Vanguard Group Inc now owns 7,414,959 shares of the biotechnology company’s stock valued at $23,802,000 after buying an additional 46,784 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Rigel Pharmaceuticals by 0.6% during the third quarter. Vanguard Group Inc. now owns 7,414,959 shares of the biotechnology company’s stock worth $23,802,000 after purchasing an additional 46,784 shares during the period. Finally, Tamarack Advisers LP lifted its holdings in shares of Rigel Pharmaceuticals by 20.9% during the fourth quarter. Tamarack Advisers LP now owns 5,500,000 shares of the biotechnology company’s stock worth $12,650,000 after purchasing an additional 950,000 shares during the period. Hedge funds and other institutional investors own 94.86% of the company’s stock.

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 Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; and Phase III clinical study for autoimmune hemolytic anemia.

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

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