Equities research analysts expect Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) to post earnings of ($0.14) per share for the current quarter, according to Zacks. Three analysts have made estimates for Rigel Pharmaceuticals’ earnings, with estimates ranging from ($0.15) to ($0.13). Rigel Pharmaceuticals posted earnings of ($0.16) per share in the same quarter last year, which would indicate a positive year over year growth rate of 12.5%. The business is expected to report its next earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Rigel Pharmaceuticals will report full year earnings of ($0.31) per share for the current fiscal year, with EPS estimates ranging from ($0.39) to ($0.27). For the next year, analysts expect that the firm will report earnings of ($0.37) per share, with EPS estimates ranging from ($0.44) to ($0.32). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Rigel Pharmaceuticals.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Rigel Pharmaceuticals had a negative net margin of 111.48% and a negative return on equity of 58.94%. The firm had revenue of $12.62 million during the quarter, compared to analysts’ expectations of $12.00 million. During the same quarter in the prior year, the firm earned ($0.17) EPS.

A number of brokerages have recently weighed in on RIGL. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $15.00 price target on shares of Foamix Pharmaceuticals in a research note on Tuesday, May 7th. Finally, Zacks Investment Research lowered shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Rigel Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $6.70.

NASDAQ RIGL traded down $0.08 on Friday, hitting $2.41. The stock had a trading volume of 610,892 shares, compared to its average volume of 1,143,710. The firm’s 50-day simple moving average is $2.34. The stock has a market cap of $402.94 million, a PE ratio of -5.48 and a beta of 1.26. Rigel Pharmaceuticals has a one year low of $1.96 and a one year high of $3.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.29 and a current ratio of 5.33.

In related news, CFO Dean L. Schorno purchased 50,000 shares of Rigel Pharmaceuticals stock in a transaction dated Wednesday, May 22nd. The stock was bought at an average cost of $2.13 per share, with a total value of $106,500.00. Following the purchase, the chief financial officer now owns 46,726 shares in the company, valued at approximately $99,526.38. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.96% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. HRT Financial LLC acquired a new stake in Rigel Pharmaceuticals during the fourth quarter valued at approximately $28,000. Quantitative Systematic Strategies LLC acquired a new stake in Rigel Pharmaceuticals during the first quarter valued at approximately $45,000. SG Americas Securities LLC acquired a new stake in Rigel Pharmaceuticals during the first quarter valued at approximately $55,000. Amalgamated Bank lifted its stake in Rigel Pharmaceuticals by 128.4% during the fourth quarter. Amalgamated Bank now owns 24,692 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 13,883 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in Rigel Pharmaceuticals during the first quarter valued at approximately $89,000. 93.04% of the stock is owned by institutional investors and hedge funds.

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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