At the last check on Friday, Rigel Pharmaceuticals Inc.’s (NASDAQ:RIGL) stock was up $0.04, moving up 3.56 percent to $1.16. The average number of shares traded per day over the past five days has been 908,321 shares. 2 times new highs have been achieved over the past 5 days, with a $0.0200 gain in that time frame. In the last twenty days, the average volume was 1,101,390, while in the previous 50 days, it was 1,362,590.
Since last month, RIGL stock retreated -10.78%. Shares of the company fell to $1.0800 on 08/18/23, the lowest level in the past month. A 52-week high of $2.04 was reached on 01/23/23 after having rallying from a 52-week low of $0.67. Since the beginning of this year, RIGL’s stock price has dropped by -22.67% or -$0.3200, and marked a new high 9 times. However, the stock has declined by -43.14% since its 52-week high.
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RIGL stock investors should be aware that Rigel Pharmaceuticals Inc. (RIGL) stock had its last reported insider trading activity 193 days ago on Feb 06. RODRIGUEZ RAUL R, the CEO, President of the company, disposed of 20,340 shares for $1.75 on Feb 06. It resulted in a $35,595 divestment by the insider. Dummer Wolfgang sold 5,389 shares at an average price of $1.66 on Feb 02. The insider now owns 72,459 shares following the transaction. On Feb 02, EVP & Chief Financial Officer Schorno Dean L sold 5,389 shares at $1.66 apiece. The transaction was valued at $8,946.
Financial Health
In the three months ended June 29, Rigel Pharmaceuticals Inc.’s quick ratio stood at 2.00, while its current ratio was 2.30, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 97.90% percent. In the year ended June 29, EBITDA margin amounted to -44.27%, whereas operating margins totaled -27.10%. Based on annual data, RIGL earned $118.49 million in gross profit and brought in $120.24 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -215.30%. Return on equity (ROE) for the past 12 months was 176.00%.
In Rigel Pharmaceuticals Inc.’s quarter-end financial report for June 29, it reported total debt of $59.57 million against cash and short-term investments of $15.55 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. RIGL’s revenue fell -10.9% to $26.07 million during the quarter, while net income inched up to $26.89 million. While analysts expected Rigel Pharmaceuticals Inc. to report -$0.08 quarterly earnings, the actual figure was -$0.04 per share. During the quarter, the company generated -$5.02 million in EBITDA. The liabilities of Rigel Pharmaceuticals Inc. were 145.21 million at the end of its most recent quarter ended June 29, and its total debt was $105.17 million. The value of shareholders’ equity is $174.36 million.
Technical Picture
This quick technical analysis looks at Rigel Pharmaceuticals Inc.’s (RIGL) price momentum. With a historical volatility rate of 59.54%, the RSI 9-day stood at 45.81% on 17 August.
With respect to its five-day moving average, the current Rigel Pharmaceuticals Inc. price is up by +1.72% percent or $0.0200. At present, RIGL shares trade -9.23% below its 20-day simple moving average and -11.28% percent below its 100-day simple moving average. However, the stock is currently trading approximately -24.36% below its SMA50 and +61.95% above its SMA200.
Stochastic coefficient K was 17.53% and Stochastic coefficient D was 18.84%, while ATR was 0.0709. Given the Stochastic reading of 32.26% for the 14-day period, the RSI (14) reading has been calculated as 43.73%.
Analyst Ratings
Rigel Pharmaceuticals Inc. (RIGL) has been rated Overweight by analysts. According to 0 brokerage firms, RIGL is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Rigel Pharmaceuticals Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $2.00, the current consensus forecast for the stock is $1.30 – $15.00. Based on these forecasts, analysts predict Rigel Pharmaceuticals Inc. (RIGL) will achieve an average price target of $4.18.
