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A -396.45% Or Greater Growth Is Projected For Rigel Pharmaceuticals Inc. (NASDAQ: RIGL)

During the last session, Rigel Pharmaceuticals Inc. (NASDAQ:RIGL)’s traded shares were 14.24 million, with the beta value of the company hitting 1.67. At the end of the trading day, the stock’s price was $1.41, reflecting an intraday gain of 8.46% or $0.11. The 52-week high for the RIGL share is $4.24, that puts it down -200.71 from that peak though still a striking 54.61% gain since the share price plummeted to a 52-week low of $0.64. The company’s market capitalization is $258.89M, and the average intraday trading volume over the past 10 days was 3.64 million shares, and the average trade volume was 6.14 million shares over the past three months.

Rigel Pharmaceuticals Inc. (RIGL) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 1.90. RIGL has a Sell rating from 0 analyst(s) out of 7 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.12.

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Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) trade information

Rigel Pharmaceuticals Inc. (RIGL) registered a 8.46% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 8.46% in intraday trading to $1.41 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 11.02%, and it has moved by 3.68% in 30 days. Based on these gigs, the overall price performance for the year is -62.70%. The short interest in Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) is 10.45 million shares and it means that shorts have 1.4 day(s) to cover.

The consensus price target of analysts on Wall Street is $2.15, which implies an increase of 34.42% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $0.80 and $7.00 respectively. As a result, RIGL is trading at a discount of -396.45% off the target high and 43.26% off the low.

Rigel Pharmaceuticals Inc. (RIGL) estimates and forecasts

Statistics show that Rigel Pharmaceuticals Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Rigel Pharmaceuticals Inc. (RIGL) shares have gone down -45.56% during the last six months, with a year-to-date growth rate less than the industry average at -372.73% against 11.20. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -50.00% this quarter and then drop -8.30% in the quarter after that. In the rating firms’ projections, revenue will decrease -41.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $23.65 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $21.95 million by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 32.20%. While earnings are projected to return 40.40% in 2022.

RIGL Dividends

Rigel Pharmaceuticals Inc. is due to release its next quarterly earnings between February 28 and March 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Rigel Pharmaceuticals Inc. (NASDAQ:RIGL)’s Major holders

Rigel Pharmaceuticals Inc. insiders own 1.20% of total outstanding shares while institutional holders control 93.95%, with the float percentage being 95.10%. FMR, LLC is the largest shareholder of the company, while 238 institutions own stock in it. As of Mar 30, 2022, the company held over 24.18 million shares (or 14.05% of all shares), a total value of $72.3 million in shares.

The next largest institutional holding, with 16.57 million shares, is of Blackrock Inc.’s that is approximately 9.63% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $49.56 million.

Also, the Mutual Funds coming in first place with the largest holdings of Rigel Pharmaceuticals Inc. (RIGL) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Fidelity Growth Company Fund. Data provided on Jun 29, 2022 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 20.36 million shares. This amounts to just over 11.83 percent of the company’s overall shares, with a $23.0 million market value. The same data shows that the other fund manager holds slightly less at 9.01 million, or about 5.24% of the stock, which is worth about $16.31 million.

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