Wall Street analysts forecast that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) will report sales of $9.25 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Rigel Pharmaceuticals’ earnings. The lowest sales estimate is $9.19 million and the highest is $9.30 million. Rigel Pharmaceuticals reported sales of $1.79 million during the same quarter last year, which indicates a positive year-over-year growth rate of 416.8%. The firm is expected to report its next earnings results on Wednesday, August 14th.
On average, analysts expect that Rigel Pharmaceuticals will report full-year sales of $85.79 million for the current fiscal year, with estimates ranging from $85.27 million to $86.20 million. For the next financial year, analysts forecast that the firm will post sales of $78.56 million, with estimates ranging from $51.62 million to $98.11 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Rigel Pharmaceuticals.
Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Rigel Pharmaceuticals had a negative net margin of 111.48% and a negative return on equity of 58.94%. The business had revenue of $12.62 million during the quarter, compared to the consensus estimate of $12.00 million. During the same quarter last year, the firm earned ($0.17) earnings per share.
RIGL has been the subject of a number of research reports. BidaskClub cut shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 16th. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Cantor Fitzgerald restated a “buy” rating and issued a $9.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, January 23rd. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $6.60.
NASDAQ RIGL traded up $0.04 during mid-day trading on Wednesday, reaching $2.21. 1,126,800 shares of the stock were exchanged, compared to its average volume of 1,884,039. Rigel Pharmaceuticals has a one year low of $1.96 and a one year high of $4.12. The company has a market capitalization of $359.47 million, a PE ratio of -4.89 and a beta of 1.18. The company has a quick ratio of 5.29, a current ratio of 5.33 and a debt-to-equity ratio of 0.26.
A number of large investors have recently bought and sold shares of RIGL. BlackRock Inc. grew its holdings in Rigel Pharmaceuticals by 1.8% in the third quarter. BlackRock Inc. now owns 13,635,104 shares of the biotechnology company’s stock worth $43,767,000 after purchasing an additional 242,737 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Rigel Pharmaceuticals during the third quarter valued at about $1,487,000. AQR Capital Management LLC grew its holdings in shares of Rigel Pharmaceuticals by 67.8% during the third quarter. AQR Capital Management LLC now owns 61,779 shares of the biotechnology company’s stock valued at $198,000 after buying an additional 24,961 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of Rigel Pharmaceuticals by 8.0% during the third quarter. Teachers Advisors LLC now owns 320,614 shares of the biotechnology company’s stock valued at $1,029,000 after buying an additional 23,823 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Rigel Pharmaceuticals by 87.0% during the third quarter. Morgan Stanley now owns 2,710,087 shares of the biotechnology company’s stock valued at $8,699,000 after buying an additional 1,260,718 shares during the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.
Rigel Pharmaceuticals Company Profile
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 Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; and Phase III clinical study for autoimmune hemolytic anemia.
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