Zacks: Analysts Anticipate Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Will Post Earnings of -$0.13 Per Share

Equities research analysts predict that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL – Get Rating) will announce earnings per share (EPS) of ($0.13) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Rigel Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.14) and the highest is ($0.11). Rigel Pharmaceuticals posted earnings per share of ($0.08) during the same quarter last year, which suggests a negative year-over-year growth rate of 62.5%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Rigel Pharmaceuticals will report full-year earnings of ($0.54) per share for the current fiscal year, with EPS estimates ranging from ($0.59) to ($0.52). For the next year, analysts anticipate that the firm will report earnings of ($0.37) per share, with EPS estimates ranging from ($0.47) to ($0.12). Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Rigel Pharmaceuticals.

Rigel Pharmaceuticals (NASDAQ:RIGL – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Rigel Pharmaceuticals had a negative return on equity of 219.06% and a negative net margin of 99.89%. The firm had revenue of $16.74 million for the quarter, compared to analysts’ expectations of $18.49 million. During the same period last year, the business earned $0.22 earnings per share.

A number of equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on Rigel Pharmaceuticals in a research note on Thursday, March 31st. They set a “hold” rating for the company. B. Riley assumed coverage on Rigel Pharmaceuticals in a research note on Wednesday, March 23rd. They issued a “neutral” rating and a $4.00 price objective on the stock. Finally, Zacks Investment Research raised Rigel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 20th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.67.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in Rigel Pharmaceuticals in the 3rd quarter valued at approximately $29,000. Eagle Asset Management Inc. acquired a new stake in Rigel Pharmaceuticals in the 4th quarter valued at approximately $29,000. Royce & Associates LP acquired a new stake in Rigel Pharmaceuticals in the 4th quarter valued at approximately $37,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Rigel Pharmaceuticals during the 3rd quarter worth approximately $38,000. Finally, Sciencast Management LP acquired a new stake in shares of Rigel Pharmaceuticals during the 1st quarter worth approximately $49,000. 80.33% of the stock is currently owned by hedge funds and other institutional investors.

Shares of RIGL traded up $0.12 during midday trading on Friday, reaching $1.96. 1,654,344 shares of the stock were exchanged, compared to its average volume of 1,691,129. Rigel Pharmaceuticals has a 12-month low of $1.80 and a 12-month high of $4.62. The firm has a 50 day simple moving average of $2.84 and a 200-day simple moving average of $2.74. The company has a quick ratio of 2.23, a current ratio of 2.35 and a debt-to-equity ratio of 4.39. The company has a market cap of $337.22 million, a price-to-earnings ratio of -4.00 and a beta of 1.48.

About Rigel Pharmaceuticals (Get Rating)

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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