Rigel Pharmaceuticals, Inc. Expected to Post FY2021 Earnings of $0.12 Per Share (RIGL)

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Investment analysts at Jefferies Group reduced their FY2021 earnings estimates for shares of Rigel Pharmaceuticals in a research report issued to clients and investors on Tuesday. Jefferies Group analyst E. Yang now expects that the biotechnology company will post earnings of $0.12 per share for the year, down from their prior estimate of $0.13.

Several other analysts have also recently weighed in on the company. BidaskClub cut Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. ValuEngine cut Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. BMO Capital Markets reaffirmed an “outperform” rating and set a $5.00 price objective (up from $4.00) on shares of Rigel Pharmaceuticals in a research report on Monday, June 19th. Zacks Investment Research cut Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $5.88.

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Shares of Rigel Pharmaceuticals (RIGL) traded up 2.56% during midday trading on Thursday, hitting $2.40. The company had a trading volume of 753,895 shares. Rigel Pharmaceuticals has a 52 week low of $1.94 and a 52 week high of $4.38. The company’s market capitalization is $293.84 million. The firm’s 50 day moving average is $2.61 and its 200 day moving average is $2.64.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, August 1st. The biotechnology company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by $0.01. Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 106.34%. During the same period in the prior year, the business posted ($0.15) EPS.

Institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC boosted its position in Rigel Pharmaceuticals by 11.3% in the first quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 3,118 shares during the period. State of Wisconsin Investment Board acquired a new position in Rigel Pharmaceuticals during the second quarter valued at about $232,000. American International Group Inc. boosted its position in Rigel Pharmaceuticals by 39.9% in the first quarter. American International Group Inc. now owns 74,900 shares of the biotechnology company’s stock valued at $248,000 after buying an additional 21,345 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Rigel Pharmaceuticals by 58.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 93,287 shares of the biotechnology company’s stock valued at $309,000 after buying an additional 34,561 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Rigel Pharmaceuticals by 68.6% in the first quarter. Wells Fargo & Company MN now owns 112,103 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 45,600 shares during the period. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

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

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