Rigel Pharmaceuticals [NASDAQ: RIGL] gained 5.41% or 0.08 points to close at $1.56 with a heavy trading volume of 3436162 shares.
The daily chart for RIGL points out that the company has recorded 36.84% gains over the past six months.
If we look at the average trading volume of 983.48K shares, RIGL reached to a volume of 3436162 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 [RIGL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIGL shares is $4.29 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 2.33. 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.
Piper Sandler have made an estimate for Rigel Pharmaceuticals shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 03, 2023. The new note on the price target was released on June 09, 2022, representing the official price target for Rigel Pharmaceuticals stock. Previously, the target price had yet another drop from $7 to $1, while Piper Sandler kept a Neutral rating on RIGL stock. On June 08, 2022, analysts decreased their price target for RIGL shares from 6 to 1.
The Average True Range (ATR) for Rigel Pharmaceuticals is set at 0.11, with the Price to Sales ratio for RIGL stock in the period of the last 12 months amounting to 2.33.
Trading performance analysis for RIGL stock
Rigel Pharmaceuticals [RIGL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.65. With this latest performance, RIGL shares gained by 33.33% in over the last four-week period, additionally plugging by 36.84% over the last 6 months – not to mention a rise of 2.63% 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 65.04, with the RSI for the last a single of trading hit 68.78, and the three-weeks RSI is set at 62.21 for Rigel Pharmaceuticals [RIGL]. The present Moving Average for the last 50 days of trading for this stock 1.3285, while it was recorded at 1.5160 for the last single week of trading, and 1.2135 for the last 200 days.
Rigel Pharmaceuticals [RIGL]: A deeper dive into fundamental analysis
Rigel Pharmaceuticals’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.76 and a Current Ratio set at 1.86.
An analysis of Institutional ownership at Rigel Pharmaceuticals [RIGL]
The top three institutional holders of RIGL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RIGL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RIGL stock with ownership which is approximately 5.8325%.
