Rigel Pharmaceuticals [RIGL] stock prices are up 7.58% to $1.42 at the moment. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The RIGL shares have gain 21.37% over the last week, with a monthly amount glided 13.60%, and seem to be holding up well over a long-time horizon.
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On 22, February 2024, Rigel Pharmaceuticals Acquires U.S. Rights to GAVRETO®. In a post published today on Yahoo Finance, GAVRETO® (pralsetinib) is an FDA approved targeted therapy for the treatment of RET fusion-positive metastatic non-small cell lung cancer and advanced or metastatic thyroid cancer.
From an analyst’s perspective:
Previously, Citigroup downgraded its rating to Neutral on June 09, 2022. On June 08, 2022, downgrade downgraded it’s rating to Neutral and revised its price target to $1 on the stock. Cantor Fitzgerald downgraded its rating to a Neutral and decreased its price target to $1 on June 08, 2022. B. Riley Securities initiated its recommendation with a Neutral and recommended $4 as its price target on March 23, 2022. JP Morgan downgraded its rating to Neutral for this stock on November 09, 2020.
The stock price of Rigel Pharmaceuticals [RIGL] has been fluctuating between $0.71 and $1.96 over the past year. Currently, Wall Street analysts expect the stock to reach $1.5 within the next 12 months. Rigel Pharmaceuticals [NASDAQ: RIGL] shares were valued at $1.42 at the most recent close of the market. An investor can expect a potential return of 5.63% based on the average RIGL price forecast.
Analyzing the RIGL fundamentals
The Rigel Pharmaceuticals [NASDAQ:RIGL] reported sales of 132.37M for trailing twelve months, representing a surge of 25.54%. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 1.3267 points at the first support level, and at 1.2333 for the second support level. However, for the 1st resistance point, the stock is sitting at 1.5067, and for the 2nd resistance point, it is at 1.5933.
Rigel Pharmaceuticals [RIGL] reported earnings per share of -$0.03 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.07/share, meaning a difference of $0.04 and a surprise factor of 57.10%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were -$0.04 per share as compared to estimates of -$0.08 per share, a difference of $0.04 representing a surprise of 50.00%.
Ratios To Look Out For
It’s worth pointing out that Rigel Pharmaceuticals [NASDAQ:RIGL]’s Current Ratio is 1.97. In addition, the Quick Ratio stands at 1.84 and the Cash Ratio stands at 0.05. Considering the valuation of this stock, the price to sales ratio is 1.87.
Transactions by insiders
Recent insider trading involved RODRIGUEZ RAUL R, CEO, President, that happened on Feb 05 when 30545.0 shares were sold. EVP, Chief Commercial Officer, Santos David A completed a deal on Feb 05 to sell 8918.0 shares. Meanwhile, EVP & Chief Financial Officer Schorno Dean L sold 7027.0 shares on Feb 05.
