Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Stock analysts at Jefferies Financial Group upped their Q3 2019 earnings per share estimates for Rigel Pharmaceuticals in a research note issued on Tuesday, August 6th, according to Zacks Investment Research. Jefferies Financial Group analyst E. Yang now expects that the biotechnology company will post earnings of ($0.14) per share for the quarter, up from their prior estimate of ($0.16). Jefferies Financial Group also issued estimates for Rigel Pharmaceuticals’ Q4 2019 earnings at $0.09 EPS, FY2019 earnings at ($0.28) EPS, FY2020 earnings at ($0.36) EPS and FY2021 earnings at ($0.09) EPS.
A number of other research analysts have also recently commented on RIGL. Cantor Fitzgerald restated a “buy” rating and set a $7.00 price objective on shares of Rigel Pharmaceuticals in a research note on Tuesday, May 7th. Zacks Investment Research raised Rigel Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $2.50 target price on the stock in a research report on Saturday, August 10th. Finally, BidaskClub lowered Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Rigel Pharmaceuticals currently has an average rating of “Buy” and an average target price of $6.60.
Shares of RIGL opened at $1.92 on Friday. The stock’s 50-day moving average is $2.37 and its two-hundred day moving average is $2.31. Rigel Pharmaceuticals has a 12 month low of $1.90 and a 12 month high of $3.65. 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 (NASDAQ:RIGL) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. The firm had revenue of $10.41 million for the quarter, compared to analysts’ expectations of $9.25 million. Rigel Pharmaceuticals had a negative return on equity of 60.72% and a negative net margin of 89.34%. During the same quarter last year, the firm earned ($0.16) earnings per share.
In other news, CFO Dean L. Schorno acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was purchased at an average cost of $2.13 per share, with a total value of $106,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 46,726 shares in the company, valued at $99,526.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.96% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Candriam Luxembourg S.C.A. increased its holdings in Rigel Pharmaceuticals by 0.3% in the second quarter. Candriam Luxembourg S.C.A. now owns 2,485,450 shares of the biotechnology company’s stock valued at $14,275,000 after buying an additional 7,450 shares during the last quarter. Worth Venture Partners LLC increased its holdings in Rigel Pharmaceuticals by 4.0% in the second quarter. Worth Venture Partners LLC now owns 227,943 shares of the biotechnology company’s stock valued at $595,000 after buying an additional 8,800 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Rigel Pharmaceuticals by 22.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 62,500 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 11,500 shares during the period. Lido Advisors LLC boosted its stake in Rigel Pharmaceuticals by 10.7% in the second quarter. Lido Advisors LLC now owns 143,502 shares of the biotechnology company’s stock valued at $374,000 after acquiring an additional 13,831 shares during the period. Finally, Bank of Montreal Can boosted its stake in Rigel Pharmaceuticals by 443.0% in the second quarter. Bank of Montreal Can now owns 17,000 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 13,869 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.
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 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rigel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.