Rigel Pharmaceuticals (NASDAQ:RIGL) Announces Quarterly Earnings Results

Rigel Pharmaceuticals (NASDAQ:RIGL) released its quarterly earnings results on Tuesday. The biotechnology company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02), RTT News reports. The business had revenue of $29.53 million for the quarter, compared to analyst estimates of $31.28 million. During the same period in the previous year, the company posted ($0.08) earnings per share.

Rigel Pharmaceuticals Price Performance

RIGL opened at $1.05 on Wednesday. The stock’s 50 day simple moving average is $1.31 and its 200 day simple moving average is $1.21. The firm has a market cap of $184.17 million, a price-to-earnings ratio of -7.93 and a beta of 1.06. Rigel Pharmaceuticals has a 1 year low of $0.71 and a 1 year high of $1.96.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. B. Riley reiterated a “neutral” rating and issued a $1.25 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 6th. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 6th. StockNews.com cut Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Citigroup upped their target price on Rigel Pharmaceuticals from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, Cantor Fitzgerald lifted their price target on shares of Rigel Pharmaceuticals from $2.00 to $3.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.81.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing therapies that enhance the lives of patients with hematologic disorders and cancer. The company's commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; Rezlidhia, a non-intensive monotherapy for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer, as well as for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.