Rigel Pharmaceuticals [NASDAQ: RIGL] price plunged by -2.33 percent to reach at -$0.03. The company report on April 4, 2024 at 8:05 AM that Rigel Announces Publication of Data on REZLIDHIA® (Olutasidenib) in Post-Venetoclax Patients with Mutant IDH1 AML in Leukemia & Lymphoma.
Olutasidenib induced durable composite complete remission in 43.8% of patients relapsed or refractory to prior venetoclax-based regimens.
The one-year RIGL stock forecast points to a potential upside of 72.43. The average equity rating for RIGL stock is currently 2.33, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $4.57 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 0.10, with the Price to Sales ratio for RIGL stock in the period of the last 12 months amounting to 1.89.
RIGL Stock Performance Analysis:
Rigel Pharmaceuticals [RIGL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.97. With this latest performance, RIGL shares dropped by -17.65% in over the last four-week period, additionally plugging by 18.87% over the last 6 months – not to mention a rise of 5.88% 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 38.83, with the RSI for the last a single of trading hit 31.21, and the three-weeks RSI is set at 43.30 for Rigel Pharmaceuticals [RIGL]. The present Moving Average for the last 50 days of trading for this stock 1.3388, while it was recorded at 1.3000 for the last single week of trading, and 1.2029 for the last 200 days.
Insight into Rigel Pharmaceuticals Fundamentals:
Rigel Pharmaceuticals’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.76 and a Current Ratio set at 1.86.
RIGL Stock EPS
With the latest financial reports released by the company, Rigel Pharmaceuticals posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 20.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RIGL.
Rigel Pharmaceuticals [RIGL] Institutonal Ownership Details
The top three institutional holders of RIGL stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in RIGL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in RIGL stock with ownership which is approximately 5.8386%.
