Wall Street brokerages predict that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) will post $12.00 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Rigel Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $11.81 million and the highest estimate coming in at $12.20 million. The business is expected to announce its next quarterly earnings report on Tuesday, May 7th.
According to Zacks, analysts expect that Rigel Pharmaceuticals will report full year sales of $66.43 million for the current year, with estimates ranging from $30.01 million to $87.13 million. For the next fiscal year, analysts expect that the company will report sales of $76.81 million, with estimates ranging from $51.25 million to $98.11 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Rigel Pharmaceuticals.
Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Thursday, February 28th. The biotechnology company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The firm had revenue of $37.86 million for the quarter, compared to the consensus estimate of $36.59 million.
A number of equities analysts have recently commented on RIGL shares. ValuEngine downgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, December 21st. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a report on Tuesday, December 25th. Cantor Fitzgerald reiterated a “buy” rating and set a $9.00 price target on shares of Rigel Pharmaceuticals in a report on Tuesday, January 8th. HC Wainwright set a $8.00 price target on shares of Rigel Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, January 11th. Finally, BidaskClub lowered shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $7.29.
Shares of Rigel Pharmaceuticals stock traded up $0.05 during trading hours on Monday, reaching $2.37. 2,057,631 shares of the company’s stock were exchanged, compared to its average volume of 1,938,023. Rigel Pharmaceuticals has a fifty-two week low of $1.96 and a fifty-two week high of $4.38. The company has a market cap of $396.21 million, a price-to-earnings ratio of -5.39 and a beta of 1.28.
A number of large investors have recently added to or reduced their stakes in the stock. Tamarack Advisers LP boosted its position in 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 in the last quarter. Pura Vida Investments LLC boosted its stake in shares of Rigel Pharmaceuticals by 9.8% during the 4th quarter. Pura Vida Investments LLC now owns 332,056 shares of the biotechnology company’s stock worth $764,000 after acquiring an additional 29,567 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Rigel Pharmaceuticals during the 4th quarter worth $1,341,000. Teachers Advisors LLC boosted its stake in shares of Rigel Pharmaceuticals by 8.0% during the 3rd quarter. Teachers Advisors LLC now owns 320,614 shares of the biotechnology company’s stock worth $1,029,000 after acquiring an additional 23,823 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Rigel Pharmaceuticals by 48.8% during the 4th quarter. Rhumbline Advisers now owns 218,130 shares of the biotechnology company’s stock worth $502,000 after acquiring an additional 71,490 shares in the last quarter. 94.86% of the stock is owned by institutional investors.
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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