Wall Street analysts expect Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) to post earnings per share of $0.03 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Rigel Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.04. Rigel Pharmaceuticals posted earnings of ($0.18) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 116.7%. The company is scheduled to announce its next earnings report on Tuesday, March 5th.

According to Zacks, analysts expect that Rigel Pharmaceuticals will report full year earnings of ($0.43) per share for the current year, with EPS estimates ranging from ($0.44) to ($0.41). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.53) per share, with EPS estimates ranging from ($0.57) to ($0.50). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Rigel Pharmaceuticals.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results 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 business had revenue of $4.87 million during the quarter, compared to analyst estimates of $3.52 million.

A number of brokerages have recently weighed in on RIGL. HC Wainwright set a $8.00 target price on Rigel Pharmaceuticals and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research cut Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday. Cantor Fitzgerald reiterated a “buy” rating and issued a $9.00 price target on shares of Rigel Pharmaceuticals in a report on Tuesday. Finally, ValuEngine cut Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, December 21st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Rigel Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $7.50.

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings 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 acquiring an additional 429,472 shares during the last quarter. BlackRock Inc. boosted its holdings in Rigel Pharmaceuticals by 1.8% in the third quarter. BlackRock Inc. now owns 13,635,104 shares of the biotechnology company’s stock valued at $43,767,000 after acquiring an additional 242,737 shares during the last quarter. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 46,784 shares during the last quarter. Vanguard Group Inc boosted its holdings 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 acquiring an additional 46,784 shares during the last quarter. Finally, Sofinnova Ventures Inc boosted its holdings in Rigel Pharmaceuticals by 43.5% in the third 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 during the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

Shares of NASDAQ:RIGL traded down $0.10 during midday trading on Friday, reaching $2.20. The company’s stock had a trading volume of 1,684,070 shares, compared to its average volume of 2,705,688. Rigel Pharmaceuticals has a fifty-two week low of $1.96 and a fifty-two week high of $4.71. The firm has a market cap of $398.27 million, a PE ratio of -3.55 and a beta of 1.43.

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.

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

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