Rigel Pharmaceuticals (NASDAQ: RIGL): Historical Performance And Trend

In today’s recent session, 1.83 million shares of the Rigel Pharmaceuticals (NASDAQ:RIGL) have been traded, and its beta is 0.95. Most recently the company’s share price was $1.28, and it changed around -$0.2 or -13.51% from the last close, which brings the market valuation of the company to $224.49M. RIGL at last check was trading at a discount to its 52-week high of $1.96, offering almost -53.12% off that amount. The share price’s 52-week low was $0.71, which indicates that the recent value has risen by an impressive 44.53% since then. We note from Rigel Pharmaceuticals’s average daily trading volume that its 10-day average is 0.93 million shares, with the 3-month average coming to 1.10 million.

Rigel Pharmaceuticals stock received a consensus recommendation rating of Hold, based on a mean score of 2.33. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 4 recommended RIGL as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Rigel Pharmaceuticals is expected to report earnings per share of -$0.03 for the current quarter.

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Rigel Pharmaceuticals (NASDAQ:RIGL) trade information

Instantly RIGL has been showing red trend so far today with a performance of -13.51% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently down -11.72% year-to-date, but still down -9.86% over the last five days. On the other hand, Rigel Pharmaceuticals (NASDAQ:RIGL) is -15.79% down in the 30-day period. We can see from the shorts that 4.94 million shares have been sold at a short interest cover period of 3.16 day(s).

The consensus price target as assigned by Wall Street analysts is $1.5, which translates to bulls needing to increase their stock price by 14.67% from its current value. Analyst projections state that RIGL is forecast to be at a low of $1 and a high of $2.

Rigel Pharmaceuticals (RIGL) estimates and forecasts

Rigel Pharmaceuticals share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 14.29 percent over the past six months and at a 57.14% annual growth rate that is well above the industry average of 8.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 62.50% in revenue this quarter, and will report an increase of 50.00% in the next quarter. The year-over-year growth rate is expected to be 26.20%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $31.39 million in revenue for the current quarter. 4 analysts expect Rigel Pharmaceuticals to make $33.48 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $26.07 million and $26.89 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 20.40%. Forecasts for the next quarter put sales growth at 24.50%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 19.96%.

RIGL Dividends

Rigel Pharmaceuticals’s next quarterly earnings report is expected to be released around April 30 and May 06.

Rigel Pharmaceuticals (NASDAQ:RIGL)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 2.06% of Rigel Pharmaceuticals shares, and 61.55% of them are in the hands of institutional investors. The stock currently has a share float of 62.84%. Rigel Pharmaceuticals stock is held by 148 institutions, with Armistice Capital, LLC being the largest institutional investor. By Jun 29, 2023, it held 9.81% of the shares, which is about 17.1 million shares worth $22.06 million.

Blackrock Inc., with 8.38% or 14.62 million shares worth $18.86 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 5.16 million shares worth $6.65 million, making up 2.96% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 3.84 million shares worth around $4.37 million, which represents about 2.20% of the total shares outstanding.