Rigel Pharmaceuticals Inc. [RIGL] is 19.14% higher this YTD. Is it still time to buy?

Rigel Pharmaceuticals Inc. [NASDAQ: RIGL] traded at a low on 07/07/21, posting a -5.66 loss after which it closed the day’ session at $4.17. The company report on June 29, 2021 that Fostamatinib Selected for NIH ACTIV-4 COVID-19 Clinical Trial.

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–ACTIV-4 Host Tissue Study will evaluate fostamatinib in ~300 hospitalized patients with COVID-19–.

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL), announced that fostamatinib, the Company’s novel oral spleen tyrosine kinase (SYK) inhibitor, has been selected for a National Institutes of Health (NIH) ACTIV-4 (Accelerating COVID-19 Therapeutic Interventions and Vaccines) trial in hospitalized patients with COVID-19.

The results of the trading session contributed to over 1819452 shares changing hands. Over the past one week, the price volatility of Rigel Pharmaceuticals Inc. stands at 4.85% while the volatility over the past one month is 4.55%.

The market cap for RIGL stock reached $724.04 million, with 169.80 million shares outstanding and 169.80 million shares in the current float. Compared to the average trading volume of 2.59M shares, RIGL reached a trading volume of 1819452 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 0.19, with the Price to Sales ratio for RIGL stock in the period of the last 12 months amounting to 5.41. The Price to Book ratio for the last quarter was 9.07, with the Price to Cash per share for the same quarter was set at 0.23.

How has RIGL stock performed recently?

Rigel Pharmaceuticals Inc. [RIGL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.29. With this latest performance, RIGL shares gained by 3.47% in over the last four-week period, additionally plugging by 22.29% over the last 6 months – not to mention a rise of 119.47% 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 49.32, with the RSI for the last a single of trading hit 43.07, and the three-weeks RSI is set at 51.94 for Rigel Pharmaceuticals Inc. [RIGL]. The present Moving Average for the last 50 days of trading for this stock 3.91, while it was recorded at 4.37 for the last single week of trading, and 3.50 for the last 200 days.

Rigel Pharmaceuticals Inc. [RIGL]: Deeper insight into the 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 3.60 and a Current Ratio set at 3.80.

Insider trade positions for Rigel Pharmaceuticals Inc. [RIGL]

There are presently around $604 million, or 87.50% of RIGL stock, in the hands of institutional investors. The top three institutional holders of RIGL stocks are: FMR LLC with ownership of 25,506,203, which is approximately 21.963% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 17,603,163 shares of the stock with an approximate value of $73.41 million in RIGL stocks shares; and STATE STREET CORP, currently with $52.2 million in RIGL stock with ownership of nearly 33.69% 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 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 29,617,716 shares. Additionally, 77 investors decreased positions by around 24,048,724 shares, while 27 investors held positions by with 91,115,515 shares. The mentioned changes placed institutional holdings at 144,781,955 shares, according to the latest SEC report filing. RIGL stock had 29 new institutional investments in for a total of 9,116,095 shares, while 21 institutional investors sold positions of 4,396,992 shares during the same period.

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