Rigel Pharmaceuticals (RIGL) Reports Q2 Loss, Tops Revenue Estimates

Group 1 - Rigel Pharmaceuticals reported a quarterly loss of $0.06 per share, significantly better than the Zacks Consensus Estimate of a loss of $0.37, representing an earnings surprise of 83.78% [1] - The company posted revenues of $36.84 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 13.79% and up from $26.89 million a year ago [2] - Rigel has surpassed consensus EPS estimates three times over the last four quarters, indicating a positive trend in earnings performance [2] Group 2 - The stock has underperformed, losing about 39.3% since the beginning of the year, while the S&P 500 has gained 8.7% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.47 on revenues of $37.19 million, and for the current fiscal year, it is -$1.33 on revenues of $142.03 million [7] - The Medical - Drugs industry, to which Rigel belongs, is currently ranked in the top 42% of over 250 Zacks industries, suggesting a favorable industry outlook [8]