Rigel Pharmaceuticals Inc. [NASDAQ: RIGL] stock went on an upward path that rose over 16.83% on Tuesday, amounting to a one-week price increase of more than 8.08%. The company report on April 13, 2021 that Positive Topline Data Shows Fostamatinib Meets Primary Endpoint of Safety in Phase 2 Clinical Trial in Hospitalized Patients with COVID-19.
Broad and consistent improvement in clinical outcomes including serious adverse events, mortality, ordinal scale assessment and number of days in the ICU.
Rigel plans to share these results with health authorities, including the US FDA.
Over the last 12 months, RIGL stock rose by 107.47%. 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 $625.43 million, with 169.04 million shares outstanding and 168.46 million shares in the current float. Compared to the average trading volume of 3.85M shares, RIGL stock reached a trading volume of 18326964 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]:
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 0.24, with the Price to Sales ratio for RIGL stock in the period of the last 12 months amounting to 5.76. The Price to Book ratio for the last quarter was 18.05, with the Price to Cash per share for the same quarter was set at 0.33.
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 8.08. With this latest performance, RIGL shares dropped by -14.66% in over the last four-week period, additionally plugging by 41.02% over the last 6 months – not to mention a rise of 107.47% 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 49.76, with the RSI for the last a single of trading hit 54.44, and the three-weeks RSI is set at 48.44 for Rigel Pharmaceuticals Inc. [RIGL]. The present Moving Average for the last 50 days of trading for this stock 3.99, while it was recorded at 3.31 for the last single week of trading, and 3.08 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 -26.67 and a Gross Margin at +99.18. Rigel Pharmaceuticals Inc.’s Net Margin is presently recorded at -27.38.
Return on Total Capital for RIGL is now -35.50, given the latest momentum, and Return on Invested Capital for the company is -40.37. Return on Equity for this stock declined to -67.72, with Return on Assets sitting at -23.06. When it comes to the capital structure of this company, Rigel Pharmaceuticals Inc. [RIGL] has a Total Debt to Total Equity ratio set at 114.87. Additionally, RIGL Total Debt to Total Capital is recorded at 53.46, with Total Debt to Total Assets ending up at 35.41. Long-Term Debt to Equity for the company is recorded at 89.54, with the Long-Term Debt to Total Capital now at 41.67.
Reflecting on the efficiency of the workforce at the company, Rigel Pharmaceuticals Inc. [RIGL] managed to generate an average of -$176,000 per employee. Receivables Turnover for the company is 8.33 with a Total Asset Turnover recorded at a value of 0.84.Rigel Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.20.
RIGL Stock EPS
With the latest financial reports released by the company, Rigel Pharmaceuticals Inc. posted 0.13/share EPS, while the average EPS was predicted by analysts to be reported at 0.13/share. 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 $432 million, or 84.80% 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 $54.05 million in RIGL stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $34.6 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 May and at the time of the May reporting period, where 69 institutional holders increased their position in Rigel Pharmaceuticals Inc. [NASDAQ:RIGL] by around 12,224,959 shares. Additionally, 67 investors decreased positions by around 12,059,484 shares, while 28 investors held positions by with 115,660,349 shares. The mentioned changes placed institutional holdings at 139,944,792 shares, according to the latest SEC report filing. RIGL stock had 26 new institutional investments in for a total of 4,748,512 shares, while 15 institutional investors sold positions of 1,202,344 shares during the same period.