Rigel Pharmaceuticals, Inc. (RIGL) to Post FY2018 Earnings of ($0.43) Per Share, Jefferies Financial Group Forecasts

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Investment analysts at Jefferies Financial Group lifted their FY2018 EPS estimates for Rigel Pharmaceuticals in a research report issued to clients and investors on Tuesday, November 6th. Jefferies Financial Group analyst E. Yang now anticipates that the biotechnology company will post earnings per share of ($0.43) for the year, up from their prior forecast of ($0.65). Jefferies Financial Group also issued estimates for Rigel Pharmaceuticals’ Q4 2018 earnings at $0.03 EPS, Q1 2019 earnings at ($0.15) EPS, Q2 2019 earnings at ($0.14) EPS, Q3 2019 earnings at ($0.11) EPS, Q4 2019 earnings at ($0.10) EPS, FY2019 earnings at ($0.50) EPS and FY2020 earnings at ($0.30) EPS.

RIGL has been the topic of a number of other reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Rigel Pharmaceuticals in a research note on Tuesday, September 4th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Rigel Pharmaceuticals in a research note on Wednesday, October 3rd. HC Wainwright set a $8.00 price objective on shares of Rigel Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, October 11th. ValuEngine raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. Finally, BidaskClub raised shares of Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 5th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $7.59.

NASDAQ:RIGL opened at $2.85 on Friday. Rigel Pharmaceuticals has a 52 week low of $2.56 and a 52 week high of $4.71. The firm has a market capitalization of $481.02 million, a PE ratio of -4.58 and a beta of 1.25.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.02. The firm had revenue of $4.87 million during the quarter, compared to the consensus estimate of $3.52 million.

In related news, CEO Raul R. Rodriguez bought 114,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were acquired at an average cost of $2.63 per share, with a total value of $299,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eldon C. Mayer III bought 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were bought at an average cost of $2.82 per share, for a total transaction of $282,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 314,000 shares of company stock worth $907,820 and have sold 179,500 shares worth $624,615. 5.38% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. United Services Automobile Association boosted its stake in Rigel Pharmaceuticals by 4.3% during the second quarter. United Services Automobile Association now owns 396,267 shares of the biotechnology company’s stock worth $1,121,000 after acquiring an additional 16,400 shares in the last quarter. Rhumbline Advisers boosted its stake in Rigel Pharmaceuticals by 16.3% during the second quarter. Rhumbline Advisers now owns 155,515 shares of the biotechnology company’s stock worth $440,000 after acquiring an additional 21,745 shares in the last quarter. Lido Advisors LLC boosted its stake in Rigel Pharmaceuticals by 45.8% during the second quarter. Lido Advisors LLC now owns 80,630 shares of the biotechnology company’s stock worth $228,000 after acquiring an additional 25,331 shares in the last quarter. MetLife Investment Advisors LLC raised its holdings in Rigel Pharmaceuticals by 53.0% during the second quarter. MetLife Investment Advisors LLC now owns 101,362 shares of the biotechnology company’s stock worth $287,000 after buying an additional 35,092 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Rigel Pharmaceuticals by 2.1% during the first quarter. Northern Trust Corp now owns 1,776,443 shares of the biotechnology company’s stock worth $6,289,000 after buying an additional 36,844 shares during the last quarter. 94.35% of the stock is currently owned by institutional investors and hedge funds.

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 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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