An investigation into Rigel Pharmaceuticals Inc. (NASDAQ:RIGL)’s technical aspects

The price of Rigel Pharmaceuticals Inc. (NASDAQ: RIGL) closed at $0.78 in the last session, down -0.58% from day before closing price of $0.78. In other words, the price has decreased by -$0.0045 from its previous closing price. On the day, 2090495 shares were traded. RIGL stock price reached its highest trading level at $0.8000 during the session, while it also had its lowest trading level at $0.7272.

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Ratios:

We take a closer look at RIGL’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 2.20 and its Current Ratio is at 2.30.

Upgrades & Downgrades

On June 08, 2022, Piper Sandler Downgraded its rating to Neutral which previously was Overweight and also lowered its target price recommendation from $7 to $1.

Cantor Fitzgerald Downgraded its Overweight to Neutral on June 08, 2022, whereas the target price for the stock was revised from $6 to $1.

Insider Transactions:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Jun 09 when RODRIGUEZ RAUL R bought 1,000,000 shares for $0.69 per share. The transaction valued at 688,400 led to the insider holds 1,391,776 shares of the business.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 1.48.

Stock Price History:

Over the past 52 weeks, RIGL has reached a high of $3.52, while it has fallen to a 52-week low of $0.64. The 50-Day Moving Average of the stock is 0.9306, while the 200-Day Moving Average is calculated to be 1.7412.

Shares Statistics:

According to the various share statistics, RIGL traded on average about 2.85M shares per day over the past 3-months and 1.36M shares per day over the past 10 days. A total of 172.84M shares are outstanding, with a floating share count of 170.76M. Insiders hold about 1.00% of the company’s shares, while institutions hold 77.60% stake in the company. Shares short for RIGL as of Oct 13, 2022 were 7.17M with a Short Ratio of 5.96M, compared to 10.95M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 4.15% and a Short% of Float of 4.87%.

Earnings Estimates

The company has 7 analysts who recommend its stock at the moment. On average, analysts expect EPS of -$0.13 for the current quarter, with a high estimate of -$0.12 and a low estimate of -$0.16, while EPS last year was -$0.12. The consensus estimate for the next quarter is -$0.13, with high estimates of -$0.11 and low estimates of -$0.15.

Analysts are recommending an EPS of between -$0.47 and -$0.57 for the fiscal current year, implying an average EPS of -$0.51. EPS for the following year is -$0.3, with 7 analysts recommending between -$0.21 and -$0.44.

Revenue Estimates

According to 6 analysts, the current quarter’s revenue is expected to be $22.61M. It ranges from a high estimate of $24.52M to a low estimate of $21.1M. As of the current estimate, Rigel Pharmaceuticals Inc.’s year-ago sales were $23.56M, an estimated decrease of -4.00% from the year-ago figure. For the next quarter, 6 analysts are estimating revenue of $22.96M, an increase of 12.50% over than the figure of -$4.00% in the same quarter last year. There is a high estimate of $26.11M for the next quarter, whereas the lowest estimate is $20.94M.

A total of 6 analysts have provided revenue estimates for RIGL’s current fiscal year. The highest revenue estimate was $97.18M, while the lowest revenue estimate was $89.3M, resulting in an average revenue estimate of $93.37M. In the same quarter a year ago, actual revenue was $149.24M, down -37.40% from the average estimate. Based on 7 analysts’ estimates, the company’s revenue will be $122.68M in the next fiscal year. The high estimate is $152.85M and the low estimate is $95.52M. The average revenue growth estimate for next year is up 31.40% from the average revenue estimate for this year.