Rigel Pharmaceuticals Inc. [NASDAQ: RIGL] stock went on an upward path that rose over 5.08% on Thursday, amounting to a one-week price increase of more than 5.54%. The company report on February 18, 2021 that Lilly and Rigel Enter Strategic Collaboration to Develop RIPK1 Inhibitors for the Potential Treatment of Immunological and Neurodegenerative Diseases.
– Lilly will obtain an exclusive worldwide license to Rigel’s RIPK1 inhibitors, including Rigel’s Phase 2-ready molecule R552, in all indications.
– Rigel will receive an upfront cash payment of $125 million, with the potential for up to an additional $835 million in future development, regulatory, and commercial milestones.
Over the last 12 months, RIGL stock rose by 106.06%. The one-year Rigel Pharmaceuticals Inc. stock forecast points to a potential upside of 35.06. The average equity rating for RIGL stock is currently 1.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $808.82 million, with 168.93 million shares outstanding and 168.46 million shares in the current float. Compared to the average trading volume of 2.96M shares, RIGL stock reached a trading volume of 22935133 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]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIGL shares is $7.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RIGL stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
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 0.33, with the Price to Sales ratio for RIGL stock in the period of the last 12 months amounting to 7.66. The Price to Book ratio for the last quarter was 15.87, with the Price to Cash per share for the same quarter was set at 0.43.
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 5.54. With this latest performance, RIGL shares gained by 26.26% in over the last four-week period, additionally plugging by 98.33% over the last 6 months – not to mention a rise of 106.06% 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 69.11, with the RSI for the last a single of trading hit 70.17, and the three-weeks RSI is set at 68.19 for Rigel Pharmaceuticals Inc. [RIGL]. The present Moving Average for the last 50 days of trading for this stock 3.78, while it was recorded at 4.56 for the last single week of trading, and 2.72 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 2.90 and a Current Ratio set at 2.90.
RIGL Stock EPS
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 Position Details
There are presently around $663 million, or 82.80% of RIGL stock, in the hands of institutional investors. The top three institutional holders of RIGL stocks are: FMR LLC with ownership of 20,913,103, which is approximately -1.388% of the company’s market cap and around 0.31% of the total institutional ownership; BLACKROCK INC., holding 17,493,420 shares of the stock with an approximate value of $83.27 million in RIGL stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $53.3 million in RIGL stock with ownership of nearly -18.378% of the company’s market capitalization.
Positions in Rigel Pharmaceuticals Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 67 institutional holders increased their position in Rigel Pharmaceuticals Inc. [NASDAQ:RIGL] by around 11,495,591 shares. Additionally, 67 investors decreased positions by around 12,573,511 shares, while 28 investors held positions by with 115,134,418 shares. The mentioned changes placed institutional holdings at 139,203,520 shares, according to the latest SEC report filing. RIGL stock had 25 new institutional investments in for a total of 4,222,903 shares, while 14 institutional investors sold positions of 1,156,708 shares during the same period.