Rigel Pharmaceuticals (RIGL) Releases Earnings Results, Beats Expectations By $0.05 EPS

Rigel Pharmaceuticals (RIGL) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $-0.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $-0.20. The company posted revenue of $8.60 million in the period, compared to analysts expectations of $4.41 million. The company’s revenue was up 65.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.16 EPS.

Many Wall Street Analysts have commented on Rigel Pharmaceuticals. H.C. Wainwright Initiated Rigel Pharmaceuticals on Jul 13, 2016 to “Buy”, Price Target of the shares are set at $6.Rigel Pharmaceuticals was Initiated by Piper Jaffray to “Overweight” on Jun 13, 2016.

Rigel Pharmaceuticals closed down -0.05 points or -2.14% at $2.29 with 3,90,756 shares getting traded on Friday. Post opening the session at $2.34, the shares hit an intraday low of $2.22 and an intraday high of $2.365 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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