Wall Street analysts predict that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) will post sales of $12.04 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Rigel Pharmaceuticals’ earnings, with the highest sales estimate coming in at $13.10 million and the lowest estimate coming in at $10.38 million. Rigel Pharmaceuticals posted sales of $4.87 million in the same quarter last year, which indicates a positive year over year growth rate of 147.2%. The firm is expected to report its next quarterly earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that Rigel Pharmaceuticals will report full-year sales of $88.72 million for the current financial year, with estimates ranging from $85.80 million to $90.83 million. For the next financial year, analysts expect that the company will report sales of $86.26 million, with estimates ranging from $74.35 million to $103.07 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Rigel Pharmaceuticals.
Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. Rigel Pharmaceuticals had a negative return on equity of 60.72% and a negative net margin of 89.34%. The firm had revenue of $10.41 million during the quarter, compared to analysts’ expectations of $9.25 million. During the same quarter last year, the firm posted ($0.16) earnings per share.
Shares of Rigel Pharmaceuticals stock opened at $1.66 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.34 and a current ratio of 4.39. Rigel Pharmaceuticals has a 52 week low of $1.60 and a 52 week high of $3.29. The stock has a 50 day moving average price of $1.71 and a two-hundred day moving average price of $2.14. The stock has a market capitalization of $273.22 million, a PE ratio of -3.77 and a beta of 1.35.
Several large investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. boosted its position in shares of Rigel Pharmaceuticals by 38.0% during the second quarter. UBS Asset Management Americas Inc. now owns 82,759 shares of the biotechnology company’s stock valued at $216,000 after buying an additional 22,803 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Rigel Pharmaceuticals by 491.2% during the second quarter. Jane Street Group LLC now owns 77,560 shares of the biotechnology company’s stock valued at $202,000 after buying an additional 64,440 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Rigel Pharmaceuticals by 175.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 250,555 shares of the biotechnology company’s stock valued at $654,000 after buying an additional 159,523 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Rigel Pharmaceuticals by 8.7% during the second quarter. Marshall Wace LLP now owns 1,246,563 shares of the biotechnology company’s stock valued at $3,254,000 after buying an additional 100,166 shares during the last quarter. Finally, Alberta Investment Management Corp purchased a new position in shares of Rigel Pharmaceuticals during the second quarter valued at approximately $121,000. 89.79% of the stock is currently owned by institutional investors.
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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