Why should you buy stock in Rigel Pharmaceuticals Inc. (RIGL)?

Rigel Pharmaceuticals Inc. (NASDAQ: RIGL) is 16.82% higher on its value in year-to-date trading and has touched a low of $1.23 and a high of $5.24 in the current 52-week trading range. The RIGL stock was last observed hovering at around $2.50 in the last trading session, with the day’s loss setting it -0.16% off its average median price target of $7.00 for the next 12 months. It is also 70.75% off the consensus price target high of $8.00 offered by 7 analysts, but current levels are 53.2% higher than the price target low of $5.00 for the same period.

Currently trading at $2.34, the stock is -6.58% and 9.09% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.82 million and changing -6.40% at the moment leaves the stock 13.63% off its SMA200. RIGL registered 10.13% gain for a year compared to 6-month loss of 0.40%. The firm has a 50-day simple moving average (SMA 50) of $2.2320 and a 200-day simple moving average (SMA200) of $2.0357.

The stock witnessed a 35.87% gain in the last 1 month and extending the period to 3 months gives it a 42.05%, and is -13.79% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 9.03% over the week and 13.59% over the month.

Rigel Pharmaceuticals Inc. (RIGL) has around 163 employees, a market worth around $424.63M and $102.40M in sales. Profit margin for the company is -27.40%. Distance from 52-week low is 90.24% and -55.34% from its 52-week high. The company has generated returns on investments over the last 12 months (-108.60%).

Rigel Pharmaceuticals Inc. (RIGL) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Rigel Pharmaceuticals Inc. (RIGL) is a “Buy”. 7 analysts offering their recommendations for the stock, where 0 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Rigel Pharmaceuticals Inc. is expected to release its quarterly report on 08/11/2020 and quarterly earnings per share for the current quarter are estimated at -$0.13 with sales reaching $13.75M over the same period.The EPS is expected to grow by 9.00% this year, but quarterly earnings will post 73.40% year-over-year. Quarterly sales are estimated to grow 32.10% in year-over-year returns.

Rigel Pharmaceuticals Inc. (RIGL) Top Institutional Holders

190 institutions hold shares in Rigel Pharmaceuticals Inc. (RIGL), with 520.88k shares held by insiders accounting for 0.31% while institutional investors hold 90.69% of the company’s shares. The shares outstanding are 168.47M, and float is at 168.05M with Short Float at 9.12%. Institutions hold 90.42% of the Float.

Rigel Pharmaceuticals Inc. (RIGL) Insider Activity

A total of 0 insider transactions have happened at Rigel Pharmaceuticals Inc. (RIGL) in the last six months, with sales accounting for 0 and purchases happening 0 times.

Rigel Pharmaceuticals Inc. (RIGL): Who are the competitors?

The company’s main competitors (and peers) include AstraZeneca PLC (AZN) that is trading 26.88% up over the past 12 months. ChemoCentryx Inc. (CCXI) is 566.42% up on the 1-year trading charts. Short interest in the company’s stock has risen 4.57% from the last report on Jun 14, 2020 to stand at a total of 14.62 million short shares sold with a short interest ratio of 0.97.