Rigel Pharmaceuticals Inc. [NASDAQ: RIGL] stock went on an upward path that rose over 2.46% on Wednesday, amounting to a one-week price increase of more than 6.18%. The company report on November 15, 2021 that Rigel Sharpens Focus on Its Advanced Portfolio Opportunities.
Rigel Pharmaceuticals, Inc. (Nasdaq:RIGL) announced plans to exit early-stage research and focus resources on its mid to late-stage development programs and its commercial efforts. The strategy will strengthen Rigel’s ability to build value for shareholders by executing on the company’s near-term value drivers: growing ITP sales, expanding the addressable market for TAVALISSE® (fostamatinib) with warm autoimmune hemolytic anemia (wAIHA) and COVID-19, advancing its wholly-owned IRAK1/4 program in hematology and immunology, and exploring other opportunities that will complement Rigel’s hematology/oncology-focused commercial offerings.
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“I want to thank the Rigel research team who discovered the pipeline of novel molecules, which includes TAVALISSE, the first and only SYK inhibitor approved for ITP and now in Phase 3 development for patients suffering from warm autoimmune hemolytic anemia and COVID-19, as well as molecules targeting IRAK1/4 and RIP1 for heme-onc and immune diseases,” said Raul Rodriguez, president and chief executive officer of Rigel. “We look forward to advancing these programs through the clinic and delivering these medicines to patients and the physicians who treat them.”.
Over the last 12 months, RIGL stock dropped by 0.00%. The one-year Rigel Pharmaceuticals Inc. stock forecast points to a potential upside of 63.5. 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 $483.00 million, with 170.89 million shares outstanding and 170.64 million shares in the current float. Compared to the average trading volume of 1.32M shares, RIGL stock reached a trading volume of 884385 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 $8.00 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 0.14, with the Price to Sales ratio for RIGL stock in the period of the last 12 months amounting to 3.28. The Price to Book ratio for the last quarter was 10.07, with the Price to Cash per share for the same quarter was set at 0.87. Price to Free Cash Flow for RIGL in the course of the last twelve months was 58.90 with Quick ratio for the last quarter at 2.80.
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 6.18. With this latest performance, RIGL shares dropped by -8.75% in over the last four-week period, additionally sinking by -22.55% over the last 6 months – not to mention a drop of 0.00% 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 38.59, with the RSI for the last a single of trading hit 39.74, and the three-weeks RSI is set at 38.57 for Rigel Pharmaceuticals Inc. [RIGL]. The present Moving Average for the last 50 days of trading for this stock 3.38, while it was recorded at 2.93 for the last single week of trading, and 3.78 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 2.80 and a Current Ratio set at 2.90.
RIGL Stock EPS
With the latest financial reports released by the company, Rigel Pharmaceuticals Inc. posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 33.30%. 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 $404 million, or 83.40% of RIGL stock, in the hands of institutional investors. The top three institutional holders of RIGL stocks are: FMR LLC with ownership of 25,543,093, which is approximately 0.072% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 16,732,300 shares of the stock with an approximate value of $48.86 million in RIGL stocks shares; and VANGUARD GROUP INC, currently with $26.52 million in RIGL stock with ownership of nearly 0.079% of the company’s market capitalization.
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 79 institutional holders increased their position in Rigel Pharmaceuticals Inc. [NASDAQ:RIGL] by around 10,081,755 shares. Additionally, 55 investors decreased positions by around 13,213,248 shares, while 45 investors held positions by with 114,997,219 shares. The mentioned changes placed institutional holdings at 138,292,222 shares, according to the latest SEC report filing. RIGL stock had 21 new institutional investments in for a total of 4,903,393 shares, while 12 institutional investors sold positions of 1,002,260 shares during the same period.