In the case of Rigel Pharmaceuticals Inc. (NASDAQ: RIGL), what’s next?

Rigel Pharmaceuticals Inc. (NASDAQ: RIGL) closed the day trading at $1.61 up 1.90% from the previous closing price of $1.58. In other words, the price has increased by $+0.0300 from its previous closing price. On the day, 2267478 shares were traded. RIGL stock price reached its highest trading level at $1.6400 during the session, while it also had its lowest trading level at $1.5600.

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For a better understanding of RIGL, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.60 and its Current Ratio is at 1.80.

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 Feb 06 when RODRIGUEZ RAUL R sold 20,340 shares for $1.75 per share. The transaction valued at 35,595 led to the insider holds 1,680,713 shares of the business.

Dummer Wolfgang sold 5,389 shares of RIGL for $8,946 on Feb 02. The EVP & CMO now owns 72,459 shares after completing the transaction at $1.66 per share. On Feb 02, another insider, Schorno Dean L, who serves as the EVP & Chief Financial Officer of the company, sold 5,389 shares for $1.66 each. As a result, the insider received 8,946 and left with 196,519 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 2.45.

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 1.6358, while the 200-Day Moving Average is calculated to be 1.2701.

Shares Statistics:

Over the past 3-months, RIGL traded about 3.54M shares per day on average, while over the past 10 days, RIGL traded about 6.18M shares per day. A total of 173.65M shares are outstanding, with a floating share count of 171.18M. Insiders hold about 1.44% of the company’s shares, while institutions hold 77.60% stake in the company. Shares short for RIGL as of Jan 12, 2023 were 5.64M with a Short Ratio of 7.65M, compared to 6.38M on Dec 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 3.26% and a Short% of Float of 3.83%.

Earnings Estimates

Current recommendations for the stock of the company come from 6 analysts. On average, analysts expect EPS of -$0.11 for the current quarter, with a high estimate of $0.02 and a low estimate of -$0.2, while EPS last year was -$0.13. The consensus estimate for the next quarter is -$0.09, with high estimates of $0.02 and low estimates of -$0.21.

Analysts are recommending an EPS of between -$0.32 and -$0.55 for the fiscal current year, implying an average EPS of -$0.45. EPS for the following year is -$0.3, with 7 analysts recommending between -$0.14 and -$0.43.

Revenue Estimates

5 analysts predict $27.97M in revenue for the current quarter. It ranges from a high estimate of $51.3M to a low estimate of $20.39M. As of the current estimate, Rigel Pharmaceuticals Inc.’s year-ago sales were $20.41M, an estimated increase of 37.00% from the year-ago figure. For the next quarter, 2 analysts are estimating revenue of $22.86M, an increase of 36.60% less than the figure of $37.00% in the same quarter last year. There is a high estimate of $24.31M for the next quarter, whereas the lowest estimate is $21.4M.

A total of 6 analysts have provided revenue estimates for RIGL’s current fiscal year. The highest revenue estimate was $120.3M, while the lowest revenue estimate was $89.36M, resulting in an average revenue estimate of $101.49M. In the same quarter a year ago, actual revenue was $149.24M, down -32.00% from the average estimate. Based on 7 analysts’ estimates, the company’s revenue will be $115.42M in the next fiscal year. The high estimate is $145.74M and the low estimate is $104.7M. The average revenue growth estimate for next year is up 13.70% from the average revenue estimate for this year.