Rigel Pharmaceuticals Inc. [RIGL] fell -1.13% so far this year. What now?


Rigel Pharmaceuticals Inc. [NASDAQ: RIGL] gained 7.38% or 0.18 points to close at $2.62 with a heavy trading volume of 2960760 shares. The company report on December 21, 2021 that Fostamatinib Meets Primary Endpoint in Phase 3 Trial in Japan for Treatment of Chronic Immune Thrombocytopenia.

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL), today announced that its collaboration partner, Kissei Pharmaceutical Co., Ltd. (“Kissei”), has released positive topline results from its Phase 3 clinical trial in Japan evaluating fostamatinib disodium hexahydrate for the treatment of adult chronic immune thrombocytopenia (ITP).

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The Phase 3 clinical study (n=34) showed that patients receiving fostamatinib (R788) achieved a stable platelet response significantly higher than patients receiving a placebo control. A stable platelet response was defined as achieving greater than or equal to 50,000 platelets per μL of blood on at least four of the last six scheduled visits between weeks 14 and 24 of treatment. The safety profile of fostamatinib was consistent with other clinical trials, with no new or unusual safety issues observed.

It opened the trading session at $2.42, the shares rose to $2.655 and dropped to $2.38, the range by which the price of stock traded the whole day. The daily chart for RIGL points out that the company has recorded -39.21% loss over the past six months. However, it is still -13.91% lower than its most recent low trading price.

If we look at the average trading volume of 1.48M shares, RIGL reached to a volume of 2960760 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 0.15, with the Price to Sales ratio for RIGL stock in the period of the last 12 months amounting to 3.08. The Price to Book ratio for the last quarter was 9.03, with the Price to Cash per share for the same quarter was set at 0.83. Price to Free Cash Flow for RIGL in the course of the last twelve months was 55.26 with Quick ratio for the last quarter at 2.80.

Trading performance analysis for RIGL stock

Rigel Pharmaceuticals Inc. [RIGL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.24. With this latest performance, RIGL shares dropped by 0.00% in over the last four-week period, additionally sinking by -39.21% over the last 6 months – not to mention a drop of -25.99% 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 46.76, with the RSI for the last a single of trading hit 47.98, and the three-weeks RSI is set at 45.23 for Rigel Pharmaceuticals Inc. [RIGL]. The present Moving Average for the last 50 days of trading for this stock 2.85, while it was recorded at 2.62 for the last single week of trading, and 3.55 for the last 200 days.

Rigel Pharmaceuticals Inc. [RIGL]: A deeper dive into fundamental analysis

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.

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An analysis of insider ownership at Rigel Pharmaceuticals Inc. [RIGL]

There are presently around $336 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 0.21% of the total institutional ownership; BLACKROCK INC., holding 16,732,300 shares of the stock with an approximate value of $40.83 million in RIGL stocks shares; and VANGUARD GROUP INC, currently with $22.16 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 March and at the time of the March reporting period, where 76 institutional holders increased their position in Rigel Pharmaceuticals Inc. [NASDAQ:RIGL] by around 9,485,444 shares. Additionally, 55 investors decreased positions by around 13,213,248 shares, while 44 investors held positions by with 114,944,427 shares. The mentioned changes placed institutional holdings at 137,643,119 shares, according to the latest SEC report filing. RIGL stock had 19 new institutional investments in for a total of 4,315,493 shares, while 12 institutional investors sold positions of 1,002,260 shares during the same period.