Is this a Prime Time To acquire Rigel Pharmaceuticals Inc. (RIGL) stock

After finishing at $2.00 in the prior trading day, Rigel Pharmaceuticals Inc. (NASDAQ: RIGL) closed at $1.83, down -8.50%. In other words, the price has decreased by -$0.1700 from its previous closing price. On the day, 4614775 shares were traded. RIGL stock price reached its highest trading level at $2.0400 during the session, while it also had its lowest trading level at $1.7650.

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Our goal is to gain a better understanding of RIGL by taking a closer look at its different ratios. 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:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. 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 3.33.

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 1.1414, while the 200-Day Moving Average is calculated to be 1.4096.

Shares Statistics:

The stock has traded on average 3.93M shares per day over the past 3-months and 3.4M shares per day over the last 10 days, according to various share statistics. A total of 172.84M shares are outstanding, with a floating share count of 170.76M. Insiders hold about 1.20% 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 5.37M, 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

Its stock is currently analyzed by 7 different market analysts. 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

6 analysts predict $22.61M in revenue for the current quarter. 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.