Rigel Pharmaceuticals (NASDAQ:RIGL) Releases Earnings Results

Rigel Pharmaceuticals (NASDAQ:RIGL) issued its earnings results on Tuesday. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02), RTT News reports. During the same period last year, the business earned ($0.08) earnings per share.

Rigel Pharmaceuticals Stock Performance

RIGL opened at $1.19 on Wednesday. Rigel Pharmaceuticals has a 52-week low of $0.71 and a 52-week high of $1.96. The stock’s 50 day moving average price is $1.31 and its 200-day moving average price is $1.21. The stock has a market capitalization of $208.73 million, a PE ratio of -7.93 and a beta of 1.06.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Citigroup lifted their price target on Rigel Pharmaceuticals from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Cantor Fitzgerald upped their price objective on shares of Rigel Pharmaceuticals from $2.00 to $3.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 6th. Finally, B. Riley restated a “neutral” rating and issued a $1.25 target price on shares of Rigel Pharmaceuticals 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 stock. According to MarketBeat, Rigel Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $5.81.

Rigel Pharmaceuticals Company Profile

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.