Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Expected to Post FY2021 Earnings of ($0.08) Per Share

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Equities research analysts at Jefferies Financial Group cut their FY2021 earnings estimates for shares of Rigel Pharmaceuticals in a research report issued to clients and investors on Monday, January 10th. Jefferies Financial Group analyst E. Yang now anticipates that the biotechnology company will post earnings per share of ($0.08) for the year, down from their prior forecast of ($0.07). Jefferies Financial Group also issued estimates for Rigel Pharmaceuticals’ Q4 2021 earnings at ($0.11) EPS, Q1 2022 earnings at ($0.14) EPS, Q2 2022 earnings at ($0.11) EPS, Q3 2022 earnings at ($0.09) EPS, Q4 2022 earnings at ($0.07) EPS, FY2022 earnings at ($0.41) EPS and FY2023 earnings at ($0.18) EPS.

A number of other brokerages also recently commented on RIGL. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Rigel Pharmaceuticals in a research report on Tuesday, September 28th. BMO Capital Markets reissued a “buy” rating and set a $8.00 price target on shares of Rigel Pharmaceuticals in a research report on Monday, November 8th. TheStreet downgraded Rigel Pharmaceuticals from a “c-” rating to a “d+” rating in a research report on Wednesday, December 8th. Finally, Zacks Investment Research cut Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 6th.

Shares of NASDAQ:RIGL opened at $2.42 on Thursday. The company has a market cap of $413.83 million, a P/E ratio of -26.89 and a beta of 1.42. The company has a quick ratio of 2.77, a current ratio of 2.89 and a debt-to-equity ratio of 0.40. Rigel Pharmaceuticals has a 52 week low of $2.27 and a 52 week high of $5.50. The business has a fifty day simple moving average of $2.71 and a 200-day simple moving average of $3.42.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings results on Tuesday, November 2nd. The biotechnology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $21.54 million for the quarter, compared to analysts’ expectations of $24.16 million. Rigel Pharmaceuticals had a negative return on equity of 25.22% and a negative net margin of 9.85%. During the same period in the previous year, the business posted ($0.08) EPS.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Hawaiian Bank acquired a new stake in Rigel Pharmaceuticals during the fourth quarter valued at approximately $483,000. Hudson Bay Capital Management LP raised its stake in Rigel Pharmaceuticals by 12.4% during the third quarter. Hudson Bay Capital Management LP now owns 2,810,000 shares of the biotechnology company’s stock valued at $10,200,000 after buying an additional 310,000 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Rigel Pharmaceuticals by 5.9% during the third quarter. Bank of New York Mellon Corp now owns 542,015 shares of the biotechnology company’s stock valued at $1,967,000 after purchasing an additional 30,080 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Rigel Pharmaceuticals by 366.3% during the third quarter. BNP Paribas Arbitrage SA now owns 30,240 shares of the biotechnology company’s stock valued at $110,000 after purchasing an additional 23,755 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Rigel Pharmaceuticals during the third quarter valued at approximately $62,000. Hedge funds and other institutional investors own 80.62% of the company’s stock.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc operates as a clinical stage biotechnology company. It discovers and develops novel, targeted drugs in the therapeutic areas of immunology, oncology and immune oncology. The firm focuses on intracellular signalling pathways and related targets that are critical to disease mechanisms.

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

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