Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) finished Wednesday with a subtraction of -$0.07 to close at $1.10, a downside of -5.98 percent. An average of 1,132,100 shares of common stock have been traded in the last five days. There was a fall of -$0.1900 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 1,172,655 shares traded, while the 50-day average volume stands at 1,476,528.
RIGL stock has decreased by -16.03% in the last month. The company shares reached their 1-month lowest point of $1.1000 on 08/09/23. With the stock rallying to its 52-week high on 01/23/23, shares of the company touched a low of $0.67 and a high of $2.04 in 52 weeks. It has reached a new high 9 times so far this year and lost -26.67% or -$0.4000 in price. In spite of this, the price is down -46.08% from the 52-week high.
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Insider Transactions
RIGL stock investors should be aware that Rigel Pharmaceuticals Inc. (RIGL) stock had its last reported insider trading activity 185 days ago on Feb 06. In this transaction, the insider spent $35,595. EVP & CMO, Dummer Wolfgang, disposed of 5,389 shares at a price of $1.66 on Feb 02. The insider now owns more than $8,946 worth of shares. Prior to that, EVP & Chief Financial Officer Schorno Dean L went on to Sale 5,389 shares at $1.66 each on Feb 02. An amount of $8,946 was transacted.
Valuation Metrics
Rigel Pharmaceuticals Inc. (RIGL) stock’s beta is 0.69. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.56.
Financial Health
The quick ratio of Rigel Pharmaceuticals Inc. for the three months ended June 29 was 2.00, and the current ratio was 2.30, indicating that the company is able to meet its debt obligations. Rigel Pharmaceuticals Inc.’s EBITDA margin for the year ending June 29 is -44.27%, while its operating margin for the same period stands at -27.10%. Its gross profit as reported stood at $118.49 million compared to revenue of $120.24 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Rigel Pharmaceuticals Inc.’s return on assets was -30.80%.
Earnings Surprise
For the three-month period that ended June 29, Rigel Pharmaceuticals Inc. had $15.55 million in cash and short-term investments compared to $59.57 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$6.6 million in the quarter, while revenues of -$13.54 million were shrunk -104.39%. The analyst consensus anticipated Rigel Pharmaceuticals Inc.’s latest quarter earnings to come in at -$0.08 per share, but it turned out to be -$0.04, a 50.00% surprise. For the quarter, EBITDA amounted to -$5.02 million. Shareholders own equity worth $174.36 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Rigel Pharmaceuticals Inc. (RIGL) price momentum. RSI 9-day as of the close on 09 August was 23.16%, suggesting the stock is oversold, with historical volatility in this time frame at 50.73%.
As of today, RIGL’s price is $1.1880 -14.73% or -$0.1900 from its 5-day moving average. RIGL is currently trading -15.38% lower than its 20-day SMA and -32.10% lower than its 100-day SMA. However, the stock’s current price level is -16.67% below the SMA50 and +37.38% above the SMA200.
The stochastic %K and %D were 8.05% and 11.37%, respectively, and the average true range (ATR) was 0.0682. With the 14-day stochastic at 0.00% and the average true range at 0.0749, the RSI (14) stands at 30.74%. The stock has reached -0.0989 on the 9-day MACD Oscillator while the 14-day reading was at -0.1063.
Analyst Ratings
The consensus rating for Rigel Pharmaceuticals Inc. (RIGL) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell RIGL, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.
What is RIGL’s price target for the next 12 months?
Analysts predict a range of price targets between $1.30 and $15.00, with a median target of $2.00. Taking a look at these predictions, the average price target given by analysts for Rigel Pharmaceuticals Inc. (RIGL) stock is $4.18.
