Brokerages forecast that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) will announce earnings of $0.04 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Rigel Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at $0.03 and the highest estimate coming in at $0.04. Rigel Pharmaceuticals reported earnings per share of ($0.18) in the same quarter last year, which suggests a positive year over year growth rate of 122.2%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, March 5th.
According to Zacks, analysts expect that Rigel Pharmaceuticals will report full year earnings of ($0.42) per share for the current financial year, with EPS estimates ranging from ($0.43) to ($0.41). For the next year, analysts forecast that the firm will post earnings of ($0.53) per share, with EPS estimates ranging from ($0.57) to ($0.50). Zacks’ EPS averages are an average based on a survey of research analysts that cover Rigel Pharmaceuticals.
Several research firms have recently weighed in on RIGL. BidaskClub lowered shares of Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Cantor Fitzgerald set a $9.00 price objective on shares of Rigel Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, October 29th. Zacks Investment Research lowered shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, November 17th. ValuEngine lowered shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, December 21st. Finally, HC Wainwright set a $8.00 price objective on shares of Rigel Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $7.50.
Shares of NASDAQ:RIGL traded up $0.03 during mid-day trading on Monday, hitting $2.19. The company had a trading volume of 1,309,099 shares, compared to its average volume of 2,577,053. The firm has a market capitalization of $359.94 million, a P/E ratio of -3.53 and a beta of 1.31. Rigel Pharmaceuticals has a one year low of $1.96 and a one year high of $4.68.
About Rigel Pharmaceuticals
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 fostamatinib, an oral spleen tyrosine kinase inhibitor for immune thrombocytopenia purpura; and Phase II clinical study for autoimmune hemolytic anemia and immunoglobulin a nephropathy.
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