Rigel Pharmaceuticals Inc. [NASDAQ: RIGL] loss -20.48% or -0.85 points to close at $3.28 with a heavy trading volume of 34216289 shares. As of July 14, the company in a press release announced that it has started an investigator-sponsored trial (IST) that will be conducted by Imperial College London.
The following IST is being conducted for the evaluation of the efficiency of fostamatinib that is an oral spleen tyrosine kinase (SYK) inhibitor used for the treatment in COVID-19 patients with pneumonia. In the United States, Fostamatinib is marketed as TAVALISSE® tablets and is approved in Europe as well for the use in treating adult chronic immune thrombocytopenia (ITP) patients.
It opened the trading session at $3.80, the shares rose to $3.89 and dropped to $3.02, the range by which the price of stock traded the whole day. The daily chart for RIGL points out that the company has recorded 25.43% gains over the past six months. However, it is still -166.67% lower than its most recent low trading price.
If we look at the average trading volume of 6.14M shares, RIGL reached to a volume of 34216289 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Rigel Pharmaceuticals Inc. [RIGL]:
Cantor Fitzgerald have made an estimate for Rigel Pharmaceuticals Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 15, 2019. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on September 26, 2019, representing the official price target for Rigel Pharmaceuticals Inc. stock. Previously, the target price had yet another drop from $9 to $7, while Cantor Fitzgerald kept a Overweight rating on RIGL stock.
The Average True Range (ATR) for Rigel Pharmaceuticals Inc. is set at 0.44, with the Price to Sales ratio for RIGL stock in the period of the last 12 months amounting to 5.52. The Price to Book ratio for the last quarter was 6.98, with the Price to Cash per share for the same quarter was set at 0.56.
Trading performance analysis for RIGL stock
Rigel Pharmaceuticals Inc. [RIGL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 67.35. With this latest performance, RIGL shares gained by 76.34% in over the last four-week period, additionally plugging by 25.43% over the last 6 months – not to mention a rise of 31.20% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RIGL stock in for the last two-week period is set at 66.50, with the RSI for the last a single of trading hit 67.05, and the three-weeks RSI is set at 65.22 for Rigel Pharmaceuticals Inc. [RIGL]. The present Moving Average for the last 50 days of trading for this stock 1.96, while it was recorded at 2.63 for the last single week of trading, and 2.01 for the last 200 days.
Rigel Pharmaceuticals Inc. [RIGL]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Rigel Pharmaceuticals Inc. [RIGL] shares currently have an operating margin of -116.53 and a Gross Margin at +98.47. Rigel Pharmaceuticals Inc.’s Net Margin is presently recorded at -112.83.
Return on Total Capital for RIGL is now -69.09, given the latest momentum, and Return on Invested Capital for the company is -69.42. Return on Equity for this stock declined to -81.73, with Return on Assets sitting at -46.67. When it comes to the capital structure of this company, Rigel Pharmaceuticals Inc. [RIGL] has a Total Debt to Total Equity ratio set at 67.48. Additionally, RIGL Total Debt to Total Capital is recorded at 40.29, with Total Debt to Total Assets ending up at 24.61. Long-Term Debt to Equity for the company is recorded at 53.96, with the Long-Term Debt to Total Capital now at 32.22.
Reflecting on the efficiency of the workforce at the company, Rigel Pharmaceuticals Inc. [RIGL] managed to generate an average of -$410,393 per employee. Receivables Turnover for the company is 8.36 with a Total Asset Turnover recorded at a value of 0.41.Rigel Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.70 and a Current Ratio set at 3.70.
Rigel Pharmaceuticals Inc. [RIGL]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Rigel Pharmaceuticals Inc. posted -0.12/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RIGL.
An analysis of insider ownership at Rigel Pharmaceuticals Inc. [RIGL]
There are presently around $617 million, or 90.20% of RIGL stock, in the hands of institutional investors. The top three institutional holders of RIGL stocks are: FMR LLC with ownership of 22,047,157, which is approximately -3.476% of the company’s market cap and around 0.31% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 15,709,067 shares of the stock with an approximate value of $64.8 million in RIGL stocks shares; and BLACKROCK INC., currently with $61.39 million in RIGL stock with ownership of nearly 1.18% of the company’s market capitalization.
Positions in Rigel Pharmaceuticals Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 44 institutional holders increased their position in Rigel Pharmaceuticals Inc. [NASDAQ:RIGL] by around 10,633,711 shares. Additionally, 66 investors decreased positions by around 9,142,450 shares, while 34 investors held positions by with 129,778,028 shares. The mentioned changes placed institutional holdings at 149,554,189 shares, according to the latest SEC report filing. RIGL stock had 8 new institutional investments in for a total of 2,786,939 shares, while 18 institutional investors sold positions of 806,118 shares during the same period.