Rigel Pharmaceuticals (NASDAQ:RIGL) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Rigel Pharmaceuticals (NASDAQ:RIGL) released its quarterly earnings data on Tuesday. The biotechnology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02), RTT News reports. During the same period in the prior year, the company posted ($0.08) earnings per share.

Rigel Pharmaceuticals Price Performance

NASDAQ RIGL opened at $1.19 on Wednesday. The company has a market cap of $208.73 million, a price-to-earnings ratio of -7.93 and a beta of 1.06. The stock’s fifty day moving average price is $1.31 and its 200 day moving average price is $1.21. Rigel Pharmaceuticals has a 1 year low of $0.71 and a 1 year high of $1.96.

Analyst Upgrades and Downgrades

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