Rigel Pharmaceuticals (RIGL) Releases Earnings Results, Beats Expectations By $0.02 EPS

Rigel Pharmaceuticals (RIGL) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $-0.19 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.21. The company posted revenue of $5.03 million in the period, compared to analysts expectations of $4.00 million. The company’s revenue was up 130.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.21 EPS.

Many Wall Street Analysts have commented on Rigel Pharmaceuticals. Rigel Pharmaceuticals was Upgraded by JP Morgan to ” Overweight” on Apr 22, 2016.

Rigel Pharmaceuticals opened for trading at $2.82 and hit $2.85 on the upside on Monday, eventually ending the session at $2.85, with a gain of 0.71% or 0.02 points. The heightened volatility saw the trading volume jump to 2,06,886 shares. Company has a market cap of $258 M.

In a different news, on Jun 12, 2015, Donald G Payan (EVP, Pres. Discovery&Research) sold 41,666 shares at $3.68 per share price.

Rigel Pharmaceuticals Inc. is a clinical-stage drug development company. The Company discovers and develops small-molecule drugs for the treatment of inflammatory and autoimmune diseases immuno-oncology related diseases and muscle disorders. Its research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. It has various product candidates in development: fostamatinib; R348; two oncology product candidates and two preclinical programs. Fostamatinib is an oral spleen tyrosine kinase (SYK) inhibitor. R348 is a topical janus kinase (JAK)/SYK inhibitor. It is conducting research in the disease areas of inflammation/immunology and muscle wasting/muscle endurance.

Rigel Pharmaceuticals

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