Rigel Pharmaceuticals (RIGL) Set to Announce Quarterly Earnings on Tuesday

Rigel Pharmaceuticals (NASDAQ:RIGL) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, August 6th. Analysts expect the company to announce earnings of ($0.37) per share for the quarter.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.20). The company had revenue of $29.53 million for the quarter, compared to analyst estimates of $31.28 million. During the same quarter in the previous year, the business posted ($0.80) EPS. On average, analysts expect Rigel Pharmaceuticals to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Rigel Pharmaceuticals Stock Down 2.1 %

Rigel Pharmaceuticals stock traded down $0.22 during midday trading on Wednesday, hitting $10.42. 3,700 shares of the stock were exchanged, compared to its average volume of 153,816. Rigel Pharmaceuticals has a 52-week low of $7.12 and a 52-week high of $17.30. The stock has a market capitalization of $182.98 million, a price-to-earnings ratio of -8.87 and a beta of 0.96. The business’s 50-day moving average price is $9.44 and its 200-day moving average price is $11.43.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, July 5th. HC Wainwright reissued a “buy” rating and issued a $150.00 price target on shares of Rigel Pharmaceuticals in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.13.

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.