Wall Street Analyst Downgrade Rigel Pharmaceuticals Inc. [RIGL]. What else is Wall St. saying

Rigel Pharmaceuticals Inc. [NASDAQ: RIGL] surged by $0.01 during the normal trading session on Wednesday and reaching a high of $2.95 during the day while it closed the day at $2.93. The company report on November 23, 2020 that Rigel and Medison Announce Health Canada Approval of TAVALISSE®, an Oral Medication for the Treatment of Adults with Chronic Immune Thrombocytopenia.

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Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) and Medison Pharma (Medison) announced that Health Canada has approved the new drug submission (NDS) for TAVALISSE® (fostamatinib disodium hexahydrate) for the treatment of thrombocytopenia in adult patients with chronic immune thrombocytopenia (ITP) who have had an insufficient response to other treatments.

“This approval of TAVALISSE provides ITP patients and physicians in Canada with a new oral treatment option, the only therapy to address the underlying platelet destruction that causes ITP,” said Raul Rodriguez, Rigel’s president and CEO. “With Medison as our collaborative partner, we believe TAVALISSE is well positioned for commercial success in the Canadian market.”.

Rigel Pharmaceuticals Inc. stock has also gained 9.74% of its value over the past 7 days. However, RIGL stock has inclined by 22.59% in the 3 months of the year. Over the past six months meanwhile, it has gained 49.87% and gained 36.92% year-on date.

The market cap for RIGL stock reached $489.57 million, with 168.93 million shares outstanding and 168.39 million shares in the current float. Compared to the average trading volume of 2.57M shares, RIGL reached a trading volume of 2449262 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Rigel Pharmaceuticals Inc. [RIGL]:

JP Morgan have made an estimate for Rigel Pharmaceuticals Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 09, 2020. While these analysts kept the previous recommendation, Cantor Fitzgerald dropped their target price from $7 to $5. The new note on the price target was released on November 15, 2019, representing the official price target for Rigel Pharmaceuticals Inc. stock. Previously, the target price had yet another raise to $7, while JP Morgan analysts kept a Overweight rating on RIGL stock. On March 01, 2019, analysts decreased their price target for RIGL shares from 9 to 7.

The Average True Range (ATR) for Rigel Pharmaceuticals Inc. is set at 0.15, with the Price to Sales ratio for RIGL stock in the period of the last 12 months amounting to 4.64. The Price to Book ratio for the last quarter was 9.77, with the Price to Cash per share for the same quarter was set at 0.44.

RIGL stock trade performance evaluation

Rigel Pharmaceuticals Inc. [RIGL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.74. With this latest performance, RIGL shares gained by 18.62% in over the last four-week period, additionally plugging by 49.87% over the last 6 months – not to mention a rise of 20.58% 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 68.89, with the RSI for the last a single of trading hit 72.01, and the three-weeks RSI is set at 63.54 for Rigel Pharmaceuticals Inc. [RIGL]. The present Moving Average for the last 50 days of trading for this stock 2.56, while it was recorded at 2.84 for the last single week of trading, and 2.19 for the last 200 days.

Rigel Pharmaceuticals Inc. [RIGL]: An insightful look at the core 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 2.90 and a Current Ratio set at 2.90.

Earnings per share (EPS) analysis for Rigel Pharmaceuticals Inc. [RIGL] stock

With the latest financial reports released by the company, Rigel Pharmaceuticals Inc. posted -0.1/share EPS, while the average EPS was predicted by analysts to be reported at -0.08/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -25.00%. 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 Ownership positions

There are presently around $410 million, or 85.50% of RIGL stock, in the hands of institutional investors. The top three institutional holders of RIGL stocks are: FMR LLC with ownership of 21,207,403, which is approximately -1.19% of the company’s market cap and around 0.31% of the total institutional ownership; BLACKROCK INC., holding 17,194,436 shares of the stock with an approximate value of $50.38 million in RIGL stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $40.2 million in RIGL stock with ownership of nearly -12.171% of the company’s market capitalization.

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Positions in Rigel Pharmaceuticals Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 58 institutional holders increased their position in Rigel Pharmaceuticals Inc. [NASDAQ:RIGL] by around 16,857,211 shares. Additionally, 70 investors decreased positions by around 22,564,343 shares, while 30 investors held positions by with 100,355,655 shares. The mentioned changes placed institutional holdings at 139,777,209 shares, according to the latest SEC report filing. RIGL stock had 23 new institutional investments in for a total of 3,094,726 shares, while 19 institutional investors sold positions of 6,395,575 shares during the same period.

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