Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL – Get Rating) – Equities research analysts at Cantor Fitzgerald raised their FY2022 earnings per share (EPS) estimates for Rigel Pharmaceuticals in a report issued on Wednesday, August 3rd. Cantor Fitzgerald analyst K. Kluska now forecasts that the biotechnology company will post earnings per share of ($0.52) for the year, up from their previous forecast of ($0.53). Cantor Fitzgerald currently has a “Neutral” rating and a $1.00 target price on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is ($0.52) per share. Cantor Fitzgerald also issued estimates for Rigel Pharmaceuticals’ FY2023 earnings at ($0.31) EPS.
Rigel Pharmaceuticals (NASDAQ:RIGL – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Rigel Pharmaceuticals had a negative net margin of 95.51% and a negative return on equity of 406.57%. The company had revenue of $16.74 million for the quarter, compared to the consensus estimate of $18.49 million. During the same quarter in the previous year, the business earned $0.22 earnings per share.
Rigel Pharmaceuticals Price Performance
NASDAQ RIGL opened at $1.52 on Friday. Rigel Pharmaceuticals has a one year low of $0.64 and a one year high of $4.24. The stock has a 50-day moving average of $1.24 and a 200 day moving average of $2.15. The company has a market capitalization of $261.52 million, a price-to-earnings ratio of -3.10 and a beta of 1.63. The company has a debt-to-equity ratio of 4.39, a quick ratio of 2.23 and a current ratio of 2.19.
Insider Buying and Selling
In other Rigel Pharmaceuticals news, CEO Raul R. Rodriguez purchased 1,000,000 shares of the stock in a transaction that occurred on Thursday, June 9th. The shares were bought at an average cost of $0.69 per share, with a total value of $690,000.00. Following the acquisition, the chief executive officer now owns 1,391,776 shares in the company, valued at $960,325.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.43% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in RIGL. SG Americas Securities LLC purchased a new stake in shares of Rigel Pharmaceuticals during the 2nd quarter worth approximately $224,000. Assenagon Asset Management S.A. increased its position in shares of Rigel Pharmaceuticals by 120.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,659,746 shares of the biotechnology company’s stock valued at $1,876,000 after purchasing an additional 906,636 shares during the last quarter. Strs Ohio increased its position in shares of Rigel Pharmaceuticals by 6.0% during the 2nd quarter. Strs Ohio now owns 163,200 shares of the biotechnology company’s stock valued at $184,000 after purchasing an additional 9,200 shares during the last quarter. Bank of America Corp DE increased its position in shares of Rigel Pharmaceuticals by 10.1% during the 1st quarter. Bank of America Corp DE now owns 275,117 shares of the biotechnology company’s stock valued at $822,000 after purchasing an additional 25,128 shares during the last quarter. Finally, Walleye Capital LLC increased its position in shares of Rigel Pharmaceuticals by 43.8% during the 1st quarter. Walleye Capital LLC now owns 1,049,059 shares of the biotechnology company’s stock valued at $3,137,000 after purchasing an additional 319,762 shares during the last quarter. 80.33% of the stock is owned by hedge funds and other institutional investors.
Rigel Pharmaceuticals Company Profile
Rigel Pharmaceuticals, Inc, a biotechnology company, discovers and develops small molecule drugs to treat hematologic disorders, cancer, and rare immune diseases. The company offers Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia.
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