Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL – Get Rating) – Investment analysts at Cantor Fitzgerald issued their FY2023 earnings per share (EPS) estimates for Rigel Pharmaceuticals in a note issued to investors on Monday, June 6th. Cantor Fitzgerald analyst K. Kluska expects that the biotechnology company will post earnings of ($0.34) per share for the year.
A number of other equities research analysts also recently weighed in on RIGL. B. Riley initiated coverage on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 23rd. They set a “neutral” rating and a $4.00 price target for the company. StockNews.com began coverage on shares of Rigel Pharmaceuticals in a research note on Thursday, March 31st. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.67.
Rigel Pharmaceuticals (NASDAQ:RIGL – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $16.74 million for the quarter, compared to the consensus estimate of $18.49 million. Rigel Pharmaceuticals had a negative return on equity of 219.06% and a negative net margin of 99.89%. During the same period last year, the firm earned $0.22 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY grew its holdings in Rigel Pharmaceuticals by 17.7% during the third quarter. Metropolitan Life Insurance Co NY now owns 43,511 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 6,541 shares during the period. Northern Trust Corp grew its holdings in Rigel Pharmaceuticals by 1.3% during the fourth quarter. Northern Trust Corp now owns 1,779,455 shares of the biotechnology company’s stock valued at $4,716,000 after purchasing an additional 22,388 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Rigel Pharmaceuticals during the fourth quarter valued at approximately $779,000. Marshall Wace LLP acquired a new position in shares of Rigel Pharmaceuticals in the third quarter valued at approximately $251,000. Finally, Telemetry Investments L.L.C. boosted its holdings in shares of Rigel Pharmaceuticals by 53.1% in the third quarter. Telemetry Investments L.L.C. now owns 122,500 shares of the biotechnology company’s stock valued at $445,000 after buying an additional 42,500 shares during the period. Hedge funds and other institutional investors own 80.33% of the company’s stock.
Rigel Pharmaceuticals Company Profile (Get Rating)
Rigel Pharmaceuticals, Inc, a biotechnology company, discovers and develops small molecule drugs to treat hematologic disorders, cancer, and rare immune diseases. The company offers Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia.
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