-$0.13 EPS Expected for Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) This Quarter

Brokerages expect Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) to announce ($0.13) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Rigel Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.14) and the highest is ($0.12). Rigel Pharmaceuticals reported earnings per share of ($0.12) in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.3%. The company is expected to issue its next earnings report on Tuesday, August 4th.

On average, analysts expect that Rigel Pharmaceuticals will report full-year earnings of ($0.27) per share for the current year, with EPS estimates ranging from ($0.36) to ($0.21). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.32) per share, with EPS estimates ranging from ($0.48) to ($0.16). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Rigel Pharmaceuticals.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its earnings results on Tuesday, May 5th. The biotechnology company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Rigel Pharmaceuticals had a negative net margin of 27.39% and a negative return on equity of 40.15%. The firm had revenue of $55.76 million for the quarter, compared to analyst estimates of $56.94 million.

RIGL has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, May 8th. ValuEngine upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. BidaskClub upgraded shares of Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Rigel Pharmaceuticals from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $6.00.

RIGL stock traded down $0.19 during mid-day trading on Friday, hitting $1.84. The stock had a trading volume of 2,843,360 shares, compared to its average volume of 2,003,932. The company has a current ratio of 3.73, a quick ratio of 3.68 and a debt-to-equity ratio of 0.35. Rigel Pharmaceuticals has a 52 week low of $1.23 and a 52 week high of $3.10. The firm has a market capitalization of $342.20 million, a P/E ratio of -12.69 and a beta of 1.28. The firm has a fifty day simple moving average of $1.87 and a 200 day simple moving average of $1.99.

A number of large investors have recently bought and sold shares of RIGL. Royal Bank of Canada lifted its position in shares of Rigel Pharmaceuticals by 1,850.0% in the 1st quarter. Royal Bank of Canada now owns 29,347 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 27,842 shares during the period. Arizona State Retirement System acquired a new position in shares of Rigel Pharmaceuticals in the 1st quarter worth approximately $61,000. Public Employees Retirement Association of Colorado lifted its position in shares of Rigel Pharmaceuticals by 21.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 46,114 shares of the biotechnology company’s stock worth $72,000 after purchasing an additional 8,014 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Rigel Pharmaceuticals by 167.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 51,722 shares of the biotechnology company’s stock valued at $81,000 after acquiring an additional 32,392 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in shares of Rigel Pharmaceuticals by 11.8% in the 1st quarter. Lido Advisors LLC now owns 59,186 shares of the biotechnology company’s stock valued at $92,000 after acquiring an additional 6,255 shares in the last quarter. Institutional investors and hedge funds own 87.96% 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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