Research Analysts Offer Predictions for Rigel Pharmaceuticals, Inc.’s FY2018 Earnings (RIGL)
Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Equities research analysts at Jefferies Financial Group increased their FY2018 earnings per share estimates for shares of Rigel Pharmaceuticals in a research report issued to clients and investors on Tuesday, November 6th. Jefferies Financial Group analyst E. Yang now forecasts that the biotechnology company will earn ($0.43) per share for the year, up from their prior estimate of ($0.65). Jefferies Financial Group also issued estimates for Rigel Pharmaceuticals’ Q4 2018 earnings at $0.03 EPS, Q1 2019 earnings at ($0.15) EPS, Q2 2019 earnings at ($0.14) EPS, Q3 2019 earnings at ($0.11) EPS, Q4 2019 earnings at ($0.10) EPS, FY2019 earnings at ($0.50) EPS and FY2020 earnings at ($0.30) EPS.
Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.02. The firm had revenue of $4.87 million for the quarter, compared to the consensus estimate of $3.52 million.
RIGL stock opened at $2.85 on Friday. Rigel Pharmaceuticals has a twelve month low of $2.56 and a twelve month high of $4.71. The firm has a market cap of $522.63 million, a price-to-earnings ratio of -4.60 and a beta of 1.25.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can bought a new position in shares of Rigel Pharmaceuticals in the second quarter worth about $139,000. Canada Pension Plan Investment Board bought a new position in shares of Rigel Pharmaceuticals in the second quarter worth about $142,000. New Jersey Better Educational Savings Trust bought a new position in shares of Rigel Pharmaceuticals in the third quarter worth about $193,000. Cubist Systematic Strategies LLC grew its holdings in shares of Rigel Pharmaceuticals by 199.9% in the second quarter. Cubist Systematic Strategies LLC now owns 60,559 shares of the biotechnology company’s stock worth $171,000 after purchasing an additional 40,366 shares during the last quarter. Finally, Granite Investment Partners LLC bought a new position in shares of Rigel Pharmaceuticals in the third quarter worth about $231,000. Hedge funds and other institutional investors own 94.35% of the company’s stock.
In related news, EVP Eldon C. Mayer III purchased 100,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were purchased at an average cost of $2.82 per share, for a total transaction of $282,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nelson Cabatuan sold 10,000 shares of the company’s stock in a transaction dated Friday, October 12th. The stock was sold at an average price of $3.12, for a total transaction of $31,200.00. Following the completion of the transaction, the insider now owns 58 shares in the company, valued at $180.96. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 314,000 shares of company stock worth $907,820 and have sold 179,500 shares worth $624,615. Insiders own 5.38% 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 fostamatinib, an oral spleen tyrosine kinase inhibitor for immune thrombocytopenia purpura; and Phase II clinical study for autoimmune hemolytic anemia and immunoglobulin a nephropathy.
Featured Article: Short Selling – Explanation For Shorting Stocks
Receive News & Ratings for Rigel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.