Rigel Pharmaceuticals Inc reports results for the quarter ended in June - Earnings Summary

Rigel Pharmaceuticals

06/08/2024 23:21

* Rigel Pharmaceuticals Inc  RIGL.OQ  reported a quarterly
adjusted loss of 6 cents​​ per share for the quarter ended in
June, higher than the same quarter last year, when the company
reported EPS of -40 cents.  The mean expectation of six analysts
for the quarter was for a loss of 29 cents per share. Wall
Street expected results to range from -50 cents to -13 cents per
share.
    * Revenue rose 37% to $36.84 million from a year ago;
analysts
expected $33.42 million. 
    * Rigel Pharmaceuticals Inc's reported EPS for the quarter
was a
loss of 6 cents​.
    * The company reported a quarterly loss of $1.03 million.
    * Rigel Pharmaceuticals Inc shares had risen by 7.1% this
quarter and lost 39.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 47.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is  "hold."

Wall Street's median 12-month price target for Rigel
Pharmaceuticals Inc is $18.75 
This summary was machine generated from LSEG data August 6 at
10:21 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.29          -0.06          Beat
 Mar. 31 2024      -0.29          -0.50          Missed
 Dec. 31 2023      -0.30          0.00           Beat
 Sep. 30 2023      -0.71          -0.30          Beat