Q2 2023 EPS Estimates for Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Decreased by HC Wainwright

Posted by on May 6th, 2023

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL – Get Rating) – Investment analysts at HC Wainwright dropped their Q2 2023 earnings per share (EPS) estimates for shares of Rigel Pharmaceuticals in a report issued on Wednesday, May 3rd. HC Wainwright analyst J. Pantginis now expects that the biotechnology company will post earnings of ($0.08) per share for the quarter, down from their prior forecast of ($0.06). HC Wainwright currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is ($0.30) per share. HC Wainwright also issued estimates for Rigel Pharmaceuticals’ Q3 2023 earnings at ($0.08) EPS, Q4 2023 earnings at ($0.07) EPS, FY2023 earnings at ($0.31) EPS and FY2024 earnings at ($0.17) EPS.

Rigel Pharmaceuticals (NASDAQ:RIGL – Get Rating) last announced its quarterly earnings data on Tuesday, March 7th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.08. Rigel Pharmaceuticals had a negative return on equity of 2,419.00% and a negative net margin of 34.47%. The company had revenue of $51.28 million for the quarter, compared to the consensus estimate of $37.55 million. During the same period in the previous year, the business earned ($0.13) EPS.

A number of other brokerages have also commented on RIGL. StockNews.com lowered Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup upped their target price on Rigel Pharmaceuticals from $2.00 to $3.00 and gave the company a “buy” rating in a report on Thursday, March 9th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $2.00 target price on shares of Rigel Pharmaceuticals in a report on Monday, April 3rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.21.

Rigel Pharmaceuticals Price Performance

Shares of Rigel Pharmaceuticals stock opened at $1.18 on Friday. Rigel Pharmaceuticals has a one year low of $0.64 and a one year high of $2.41. The firm has a market capitalization of $204.93 million, a price-to-earnings ratio of -4.54 and a beta of 0.72. The business has a 50-day simple moving average of $1.34 and a 200 day simple moving average of $1.26.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bayesian Capital Management LP bought a new position in Rigel Pharmaceuticals in the third quarter valued at $25,000. State of Wyoming bought a new position in shares of Rigel Pharmaceuticals during the fourth quarter valued at about $33,000. Dynamic Advisor Solutions LLC grew its stake in shares of Rigel Pharmaceuticals by 39.9% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 22,800 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 6,500 shares during the last quarter. UBS Group AG bought a new position in shares of Rigel Pharmaceuticals during the fourth quarter valued at about $35,000. Finally, Balyasny Asset Management LLC bought a new position in shares of Rigel Pharmaceuticals during the third quarter valued at about $34,000. Institutional investors own 73.88% of the company’s stock.

About Rigel Pharmaceuticals

(Get Rating)

Rigel Pharmaceuticals, Inc operates as a clinical stage biotechnology company. It discovers and develops novel, targeted drugs in the therapeutic areas of immunology, oncology and immune oncology. The firm focuses on intracellular signalling pathways and related targets that are critical to disease mechanisms.

Read More

Earnings History and Estimates for Rigel Pharmaceuticals (NASDAQ:RIGL)

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.