Rigel Pharmaceuticals Inc. [RIGL] is -40.00% lower this YTD. Is it still time to buy?

Rigel Pharmaceuticals Inc. [NASDAQ: RIGL] jumped around 0.03 points on Wednesday, while shares priced at $1.59 at the close of the session, up 1.92%. The company report on August 2, 2022 that Rigel Reports Second Quarter 2022 Financial Results and Provides Business Update.

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Second quarter TAVALISSE® net product sales of $18.6 million and total revenues of $29.8 million.

Expanded Rigel’s hematology-oncology portfolio by entering into an exclusive license agreement with Forma Therapeutics, Inc. for olutasidenib with an expected launch in 2023.

Rigel Pharmaceuticals Inc. stock is now -40.00% down from its year-to-date (YTD) trading value. RIGL Stock saw the intraday high of $1.67 and lowest of $1.53 per share. The company’s 52-week high price is 4.24, which means current price is +148.44% above from all time high which was touched on 03/18/22.

Compared to the average trading volume of 6.54M shares, RIGL reached a trading volume of 3951711 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 $2.64 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 2.70. 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.

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 0.14, with the Price to Sales ratio for RIGL stock in the period of the last 12 months amounting to 2.82.

How has RIGL stock performed recently?

Rigel Pharmaceuticals Inc. [RIGL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.30. With this latest performance, RIGL shares gained by 18.66% in over the last four-week period, additionally sinking by -39.08% over the last 6 months – not to mention a drop of -56.56% 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 60.25, with the RSI for the last a single of trading hit 64.41, and the three-weeks RSI is set at 56.21 for Rigel Pharmaceuticals Inc. [RIGL]. The present Moving Average for the last 50 days of trading for this stock 1.2271, while it was recorded at 1.5300 for the last single week of trading, and 2.2925 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 2.10 and a Current Ratio set at 2.20.

Insider trade positions for Rigel Pharmaceuticals Inc. [RIGL]

There are presently around $223 million, or 95.10% of RIGL stock, in the hands of institutional investors. The top three institutional holders of RIGL stocks are: FMR LLC with ownership of 24,127,070, which is approximately -0.226% of the company’s market cap and around 1.00% of the total institutional ownership; STATE STREET CORP, holding 23,945,568 shares of the stock with an approximate value of $38.07 million in RIGL stocks shares; and BLACKROCK INC., currently with $26.12 million in RIGL stock with ownership of nearly -0.88% 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 49 institutional holders increased their position in Rigel Pharmaceuticals Inc. [NASDAQ:RIGL] by around 35,472,160 shares. Additionally, 87 investors decreased positions by around 30,463,376 shares, while 40 investors held positions by with 74,377,353 shares. The mentioned changes placed institutional holdings at 140,312,889 shares, according to the latest SEC report filing. RIGL stock had 10 new institutional investments in for a total of 4,017,219 shares, while 35 institutional investors sold positions of 19,700,550 shares during the same period.


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