JP Morgan raised the price target for the Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) stock from “an Overweight” to “a Neutral”. The rating was released on November 09, 2020. We previously noted in another research note published on November 15, 2019 by Cantor Fitzgerald that resumed the stock to an Overweight with a price target of $5 for RIGL stock. The research report from JP Morgan has resumed the stock to Overweight, with a price target set at $7. The stock was reiterated by Cantor Fitzgerald, who disclosed in a research note on March 01, 2019, to Overweight and set the price objective to $7. In their research brief published August 27, 2018, Citigroup analysts initiated the Rigel Pharmaceuticals Inc. stock to Buy with a price target of $8.50.
Historical Earnings Surprises and Revenue Forecasts
It appears that the average earnings per share estimate for the current quarter (ending in Jun 2021) is -$0.11. This is an average of 6 analysts’ earnings, where the high earnings per share estimate is -$0.1 and the low earnings per share estimate is -$0.13. According to 5 analyst estimates, an average revenue estimate of $20.37M is projected for the current quarter with a high revenue estimate of $22.93M and a low estimate of $15.5M.
The latest trade, Performances and Moving Averages give us the following Picture
The share price of Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) raised 0.48% to close Friday’s market session at $4.22, higher as compared to yesterday’s close. The stock price fluctuated between $4.065 and $4.27 throughout the trading session with the volume trading being 5585432 shares, which represented a significant variation when compared to the three months average volume of 2.70 million shares. The firm’s stock price fluctuated 4.98% within the last five trades and 15.93% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 13.75% in the last 6 months and 5.76% was added to its value over the previous 3 months. RIGL stock is trading at a margin of 7.83%, 13.86% and 24.94% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, RIGL deals in the Healthcare domain. The stock is trading -23.27 percent below its 52-week high and 142.53 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 48.11. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Rigel Pharmaceuticals Inc.’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at -6.10 percent and the profit margin is -8.60 percent, and the company has reported a gross margin of 99.20 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $714.70 million as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 5.34 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 9.17, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 0.10 percent of Rigel Pharmaceuticals Inc. shares are owned by insiders, and 87.60 percent are held by financial institutions.