Zacks: Analysts Anticipate Rigel Pharmaceuticals, Inc. (RIGL) Will Post Quarterly Sales of $300,000.00

Equities research analysts expect Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) to post sales of $300,000.00 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Rigel Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $140,000.00 and the highest estimate coming in at $570,000.00. The business is scheduled to report its next earnings report on Tuesday, August 7th.

According to Zacks, analysts expect that Rigel Pharmaceuticals will report full year sales of $4.48 million for the current year, with estimates ranging from $3.14 million to $7.32 million. For the next year, analysts expect that the business will post sales of $45.68 million per share, with estimates ranging from $40.55 million to $57.92 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Rigel Pharmaceuticals.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, May 1st. The biotechnology company reported ($0.17) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.17). During the same quarter in the previous year, the firm posted ($0.13) earnings per share.

A number of brokerages have weighed in on RIGL. Zacks Investment Research cut shares of Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, March 10th. BidaskClub cut shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, March 15th. HC Wainwright set a $7.00 price objective on shares of Rigel Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, March 7th. Jefferies Financial Group upped their price objective on shares of Rigel Pharmaceuticals to $7.00 and gave the stock a “buy” rating in a report on Wednesday, April 18th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies increased their price target on shares of Rigel Pharmaceuticals from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Tuesday, April 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $7.63.

Several large investors have recently bought and sold shares of RIGL. Schwab Charles Investment Management Inc. grew its holdings in shares of Rigel Pharmaceuticals by 11.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 299,200 shares of the biotechnology company’s stock valued at $1,161,000 after buying an additional 31,200 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Rigel Pharmaceuticals during the fourth quarter valued at approximately $181,000. Swiss National Bank purchased a new stake in shares of Rigel Pharmaceuticals during the fourth quarter valued at approximately $891,000. The Manufacturers Life Insurance Company grew its holdings in shares of Rigel Pharmaceuticals by 13.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 115,304 shares of the biotechnology company’s stock valued at $447,000 after buying an additional 13,735 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Rigel Pharmaceuticals by 35.4% during the fourth quarter. Bank of New York Mellon Corp now owns 748,963 shares of the biotechnology company’s stock valued at $2,905,000 after buying an additional 195,791 shares during the last quarter. Hedge funds and other institutional investors own 84.51% of the company’s stock.

Shares of RIGL opened at $2.83 on Friday. The stock has a market capitalization of $476.02 million, a price-to-earnings ratio of -4.56 and a beta of 1.36. Rigel Pharmaceuticals has a fifty-two week low of $2.14 and a fifty-two week high of $4.71.

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

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