Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Investment analysts at Jefferies Group dropped their Q1 2018 EPS estimates for Rigel Pharmaceuticals in a research note issued to investors on Tuesday. Jefferies Group analyst E. Yang now expects that the biotechnology company will post earnings of ($0.18) per share for the quarter, down from their previous estimate of ($0.13). Jefferies Group also issued estimates for Rigel Pharmaceuticals’ Q2 2018 earnings at ($0.18) EPS, Q3 2018 earnings at ($0.18) EPS, Q4 2018 earnings at ($0.18) EPS, FY2018 earnings at ($0.67) EPS, FY2019 earnings at ($0.51) EPS, FY2020 earnings at ($0.26) EPS and FY2021 earnings at ($0.03) EPS.
Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05). During the same quarter in the previous year, the company posted ($0.16) earnings per share.
Shares of Rigel Pharmaceuticals (RIGL) opened at $4.50 on Friday. Rigel Pharmaceuticals has a 1 year low of $2.14 and a 1 year high of $4.71. The firm has a market capitalization of $666.62, a price-to-earnings ratio of -7.38 and a beta of 1.29.
Hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. bought a new stake in shares of Rigel Pharmaceuticals during the fourth quarter worth $105,000. Quantitative Investment Management LLC bought a new stake in shares of Rigel Pharmaceuticals during the fourth quarter worth $109,000. Voya Investment Management LLC grew its holdings in shares of Rigel Pharmaceuticals by 30.4% during the second quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock worth $146,000 after purchasing an additional 12,500 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Rigel Pharmaceuticals by 415.2% during the third quarter. SG Americas Securities LLC now owns 59,401 shares of the biotechnology company’s stock worth $151,000 after purchasing an additional 47,872 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Rigel Pharmaceuticals during the fourth quarter worth $181,000. Institutional investors own 92.82% of the company’s stock.
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About Rigel Pharmaceuticals
Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.
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