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At Simply Wall St, we have a full range of analyst estimates for Rigel Pharmaceuticals going out to 2024, and you can see them free on our platform here.Īnother way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying. With that said, the long-term trajectory of the company's earnings is a lot more important than next year. So we wouldn't be surprised if the market became a lot more cautious on Rigel Pharmaceuticals after today. Often, one downgrade can set off a daisy-chain of cuts, especially if an industry is in decline. Unfortunately analysts also downgraded their revenue estimates, and industry data suggests that Rigel Pharmaceuticals' revenues are expected to grow slower than the wider market. The most important thing to take away is that analysts increased their loss per share estimates for this year. It's pretty clear that Rigel Pharmaceuticals' revenues are expected to perform substantially worse than the wider industry. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 12% per year. This indicates a significant reduction from annual growth of 49% over the last five years. These estimates imply that sales are expected to slow, with a forecast annualised revenue decline of 37% by the end of 2022. One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. Ergo, there's been a clear change in sentiment, with the analysts administering a notable cut to this year's revenue estimates, while at the same time increasing their loss per share forecasts.Ĭheck out our latest analysis for Rigel Pharmaceuticals However, before this estimates update, the consensus had been expecting revenues of US$100m and US$0.44 per share in losses.
Losses are supposed to balloon 354% to US$0.48 per share. Whether the downgrade will have a negative impact on demand for shares is yet to be seen.Īfter the downgrade, the consensus from Rigel Pharmaceuticals' six analysts is for revenues of US$88m in 2022, which would reflect a concerning 37% decline in sales compared to the last year of performance. Investors however, have been notably more optimistic about Rigel Pharmaceuticals recently, with the stock price up an impressive 20% to US$3.04 in the past week. There was a fairly draconian cut to their revenue estimates, perhaps an implicit admission that previous forecasts were much too optimistic. ( NASDAQ:RIGL) shareholders today, when the analysts downgraded their forecasts for this year. Market forces rained on the parade of Rigel Pharmaceuticals, Inc.
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