Rigel Pharmaceuticals Inc. [RIGL] is -51.32% lower this YTD. Is it still time to buy?

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Rigel Pharmaceuticals Inc. [NASDAQ: RIGL] jumped around 0.07 points on Tuesday, while shares priced at $1.29 at the close of the session, up 5.74%. The company report on June 8, 2022 that Rigel Announces Top-line Results from FORWARD Phase 3 Clinical Trial of Fostamatinib in Patients with Warm Autoimmune Hemolytic Anemia.


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Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced top-line efficacy and safety data from the FORWARD Phase 3 clinical trial, a global, multi-center, randomized, double-blind, placebo-controlled trial of fostamatinib in patients with warm autoimmune hemolytic anemia (wAIHA). The trial did not demonstrate statistical significance in the primary efficacy endpoint of durable hemoglobin response in the overall study population. In a post-hoc regional analysis of U.S., Canadian, Australian, and Western European trial sites, patients treated with fostamatinib had a favorable durable hemoglobin response compared to placebo, whereas in the Eastern European trial sites patients did not. Rigel plans to continue analyzing the data to understand the geographical differences in patient disease characteristics and outcomes and discuss these findings with the U.S. Food and Drug Administration (FDA).

Rigel Pharmaceuticals Inc. stock is now -51.32% down from its year-to-date (YTD) trading value. RIGL Stock saw the intraday high of $1.385 and lowest of $1.16 per share. The company’s 52-week high price is 4.37, which means current price is +101.56% above from all time high which was touched on 03/18/22.

Compared to the average trading volume of 5.83M shares, RIGL reached a trading volume of 5111659 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]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIGL shares is $2.15 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 1.90. 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.

Citigroup have made an estimate for Rigel Pharmaceuticals Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 09, 2022. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $7 to $1. The new note on the price target was released on June 08, 2022, representing the official price target for Rigel Pharmaceuticals Inc. stock. Previously, the target price had yet another drop from $6 to $1, while Cantor Fitzgerald kept a Neutral rating on RIGL stock.

The Average True Range (ATR) for Rigel Pharmaceuticals Inc. is set at 0.18, with the Price to Sales ratio for RIGL stock in the period of the last 12 months amounting to 2.50. The Price to Book ratio for the last quarter was 32.25, with the Price to Cash per share for the same quarter was set at 0.65.

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 -5.15. With this latest performance, RIGL shares gained by 79.74% in over the last four-week period, additionally sinking by -48.81% over the last 6 months – not to mention a drop of -69.36% 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 49.17, with the RSI for the last a single of trading hit 53.02, and the three-weeks RSI is set at 46.15 for Rigel Pharmaceuticals Inc. [RIGL]. The present Moving Average for the last 50 days of trading for this stock 1.5807, while it was recorded at 1.2940 for the last single week of trading, and 2.5650 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 -6.01 and a Gross Margin at +98.88. Rigel Pharmaceuticals Inc.’s Net Margin is presently recorded at -12.00.

Return on Equity for this stock declined to -55.63, with Return on Assets sitting at -12.90.

Rigel Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.30.

Insider trade positions for Rigel Pharmaceuticals Inc. [RIGL]

There are presently around $165 million, or 83.50% of RIGL stock, in the hands of institutional investors. The top three institutional holders of RIGL stocks are: FMR LLC with ownership of 24,181,804, which is approximately -1.586% of the company’s market cap and around 1.20% of the total institutional ownership; BLACKROCK INC., holding 16,573,646 shares of the stock with an approximate value of $20.22 million in RIGL stocks shares; and VANGUARD GROUP INC, currently with $11.14 million in RIGL stock with ownership of nearly 1.153% of the company’s market capitalization.

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 69 institutional holders increased their position in Rigel Pharmaceuticals Inc. [NASDAQ:RIGL] by around 11,787,440 shares. Additionally, 72 investors decreased positions by around 13,243,330 shares, while 41 investors held positions by with 110,597,756 shares. The mentioned changes placed institutional holdings at 135,628,526 shares, according to the latest SEC report filing. RIGL stock had 18 new institutional investments in for a total of 2,109,546 shares, while 15 institutional investors sold positions of 1,783,570 shares during the same period.

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