Rigel Pharmaceuticals Inc. [NASDAQ: RIGL] surged by $0.07 during the normal trading session on Wednesday and reaching a high of $1.72 during the day while it closed the day at $1.68. The company report on March 7, 2023 that Rigel Reports Fourth Quarter and Full Year 2022 Financial Results and Provides Business Update.
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Fourth quarter 2022 Total Revenue of $51.3 million which includes TAVALISSE® net product sales of $21.9 million and REZLIDHIA™ net product sales of $0.9 million.
REZLIDHIA U.S. commercial launch continues to progress and is supported by recent addition to NCCN Guidelines® for AML.
Rigel Pharmaceuticals Inc. stock has also loss -6.15% of its value over the past 7 days. However, RIGL stock has inclined by 70.28% in the 3 months of the year. Over the past six months meanwhile, it has gained 29.23% and gained 12.00% year-on date.
The market cap for RIGL stock reached $307.81 million, with 173.65 million shares outstanding and 171.18 million shares in the current float. Compared to the average trading volume of 3.52M shares, RIGL reached a trading volume of 4036847 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $3.99 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 2.40. 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 2.56.
RIGL stock trade performance evaluation
Rigel Pharmaceuticals Inc. [RIGL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.15. With this latest performance, RIGL shares gained by 3.70% in over the last four-week period, additionally plugging by 29.23% over the last 6 months – not to mention a drop of -43.24% 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 54.60, with the RSI for the last a single of trading hit 56.57, and the three-weeks RSI is set at 54.27 for Rigel Pharmaceuticals Inc. [RIGL]. The present Moving Average for the last 50 days of trading for this stock 1.6391, while it was recorded at 1.6270 for the last single week of trading, and 1.2695 for the last 200 days.
Rigel Pharmaceuticals Inc. [RIGL]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Rigel Pharmaceuticals Inc. [RIGL] shares currently have an operating margin of -45.10 and a Gross Margin at +98.55. Rigel Pharmaceuticals Inc.’s Net Margin is presently recorded at -48.71.
Return on Equity for this stock declined to -699.05, with Return on Assets sitting at -38.84.
Rigel Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.80.
Rigel Pharmaceuticals Inc. [RIGL]: Insider Ownership positions
There are presently around $185 million, or 77.60% of RIGL stock, in the hands of institutional investors. The top three institutional holders of RIGL stocks are: ARMISTICE CAPITAL, LLC with ownership of 16,956,000, which is approximately 391.069% of the company’s market cap and around 1.44% of the total institutional ownership; BLACKROCK INC., holding 14,681,064 shares of the stock with an approximate value of $24.66 million in RIGL stocks shares; and VANGUARD GROUP INC, currently with $20.3 million in RIGL stock with ownership of nearly 1.186% of the company’s market capitalization.
Positions in Rigel Pharmaceuticals Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 54 institutional holders increased their position in Rigel Pharmaceuticals Inc. [NASDAQ:RIGL] by around 21,741,643 shares. Additionally, 73 investors decreased positions by around 39,852,522 shares, while 29 investors held positions by with 48,540,357 shares. The mentioned changes placed institutional holdings at 110,134,522 shares, according to the latest SEC report filing. RIGL stock had 15 new institutional investments in for a total of 960,215 shares, while 33 institutional investors sold positions of 9,619,522 shares during the same period.