Zacks: Analysts Anticipate Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Will Announce Quarterly Sales of $22.78 Million

Equities research analysts expect Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL – Get Rating) to post $22.78 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Rigel Pharmaceuticals’ earnings, with estimates ranging from $20.64 million to $24.04 million. Rigel Pharmaceuticals reported sales of $26.27 million during the same quarter last year, which indicates a negative year over year growth rate of 13.3%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Rigel Pharmaceuticals will report full-year sales of $85.40 million for the current financial year, with estimates ranging from $81.95 million to $92.70 million. For the next year, analysts expect that the business will report sales of $119.72 million, with estimates ranging from $100.88 million to $149.45 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Rigel Pharmaceuticals.

Rigel Pharmaceuticals (NASDAQ:RIGL – Get Rating) last issued its 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 return on equity of 219.06% and a negative net margin of 99.89%. The company had revenue of $16.74 million during the quarter, compared to analysts’ expectations of $18.49 million. During the same period in the previous year, the company earned $0.22 EPS.

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

Shares of NASDAQ RIGL opened at $2.05 on Tuesday. Rigel Pharmaceuticals has a 1-year low of $1.80 and a 1-year high of $4.62. The business has a 50-day moving average of $2.82 and a 200-day moving average of $2.73. The company has a debt-to-equity ratio of 4.39, a current ratio of 2.35 and a quick ratio of 2.23. The company has a market capitalization of $352.71 million, a price-to-earnings ratio of -4.18 and a beta of 1.48.

Large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new position in Rigel Pharmaceuticals during the 3rd quarter worth approximately $29,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Rigel Pharmaceuticals during the 3rd quarter worth approximately $38,000. Eagle Asset Management Inc. acquired a new stake in shares of Rigel Pharmaceuticals during the 4th quarter worth approximately $29,000. Royce & Associates LP acquired a new stake in shares of Rigel Pharmaceuticals during the 4th quarter worth approximately $37,000. 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 institutional investors.

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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