Rigel Pharmaceuticals Inc. [RIGL] Stock trading around $2.49 per share: What’s Next?

Rigel Pharmaceuticals Inc. [NASDAQ: RIGL] stock went on an upward path that rose over 2.05% on Monday, amounting to a one-week price increase of more than 4.62%. The company report on August 21, 2020 that Rigel Pharmaceuticals, Inc. Announces Inducement Grants under NASDAQ Listing Rule 5635(c)(4).

Rigel Pharmaceuticals (Nasdaq: RIGL) today announced that it has granted awards pursuant to the Rigel Pharmaceuticals, Inc. Inducement Plan, approved by the Compensation Committee of Rigel’s Board of Directors and granted as an inducement material to an employee’s employment with Rigel, in accordance with NASDAQ Listing Rule 5635(c)(4). Specifically, Rigel granted 250,000 stock options to David A. Santos, Rigel’s newly appointed EVP and Chief Commercial Officer, vesting over four years with a one-year cliff. Additionally, Mr. Santos was granted 250,000 stock options to vest upon achievement of certain future performance conditions. Each option to purchase has an exercise price equal to the closing price of Rigel’s common stock on August 19, 2020, the date of grant.

Over the last 12 months, RIGL stock rose by 47.34%.

The market cap for the stock reached $411.97 million, with 168.57 million shares outstanding and 168.41 million shares in the current float. Compared to the average trading volume of 7.83M shares, RIGL stock reached a trading volume of 3138866 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.17, with the Price to Sales ratio for RIGL stock in the period of the last 12 months amounting to 3.81. The Price to Book ratio for the last quarter was 6.73, with the Price to Cash per share for the same quarter was set at 0.56.

RIGL Stock Performance Analysis:

Rigel Pharmaceuticals Inc. [RIGL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.62. With this latest performance, RIGL shares gained by 8.26% in over the last four-week period, additionally plugging by 14.22% over the last 6 months – not to mention a rise of 47.34% 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 54.24, with the RSI for the last a single of trading hit 53.27, and the three-weeks RSI is set at 52.01 for Rigel Pharmaceuticals Inc. [RIGL]. The present Moving Average for the last 50 days of trading for this stock 2.41, while it was recorded at 2.41 for the last single week of trading, and 2.12 for the last 200 days.

Insight into Rigel Pharmaceuticals Inc. Fundamentals:

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 3.20 and a Current Ratio set at 3.30.

RIGL Stock EPS

With the latest financial reports released by the company, Rigel Pharmaceuticals Inc. posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.11/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 36.40%. 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.

Rigel Pharmaceuticals Inc. [RIGL] Insider Position Details

There are presently around $362 million, or 88.20% of RIGL stock, in the hands of institutional investors. The top three institutional holders of RIGL stocks are: FMR LLC with ownership of 21,462,703, which is approximately -2.651% of the company’s market cap and around 0.31% of the total institutional ownership; BLACKROCK INC., holding 17,219,104 shares of the stock with an approximate value of $42.88 million in RIGL stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $38.9 million in RIGL stock with ownership of nearly -0.559% of the company’s market capitalization.

Positions in Rigel Pharmaceuticals Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 71 institutional holders increased their position in Rigel Pharmaceuticals Inc. [NASDAQ:RIGL] by around 14,326,622 shares. Additionally, 41 investors decreased positions by around 18,841,378 shares, while 33 investors held positions by with 112,365,649 shares. The mentioned changes placed institutional holdings at 145,533,649 shares, according to the latest SEC report filing. RIGL stock had 18 new institutional investments in for a total of 2,931,565 shares, while 8 institutional investors sold positions of 706,414 shares during the same period.

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