Earnings Estimates Rising for Rigel (RIGL): Will It Gain?

Core Viewpoint - Rigel Pharmaceuticals (RIGL) shows potential as a strong investment opportunity due to significant upward revisions in earnings estimates, indicating improving earnings outlook [1][2]. Earnings Estimate Revisions - The trend of increasing earnings estimate revisions reflects growing analyst optimism regarding Rigel's earnings prospects, which is expected to positively influence its stock price [2]. - For the current quarter, Rigel is projected to earn $1.43 per share, representing a remarkable increase of +2483.33% compared to the same period last year. The Zacks Consensus Estimate has risen by 363.42% over the last 30 days due to two upward revisions and one downward revision [5]. - For the full year, the expected earnings per share is $2.17, marking a +119.19% change from the previous year. The consensus estimate has increased by 82.97% as three estimates moved higher and one went lower [6][7]. Zacks Rank - Rigel has achieved a Zacks Rank of 2 (Buy), indicating favorable conditions for investment. This ranking is based on the positive trend in earnings estimate revisions, which historically correlates with stock performance [8]. - Stocks with Zacks Rank 1 (Strong Buy) and 2 (Buy) have been shown to significantly outperform the S&P 500 [8]. Stock Performance - Rigel's shares have appreciated by 16.2% over the past four weeks, suggesting strong investor confidence driven by the positive earnings estimate revisions [9].