The Rigel Pharmaceuticals Inc. (RIGL) shares are trading at lower $2.90.
To add more color to this target, the company’s high over the last year is $5.24 and the low is $1.23. Over the last 52 weeks, RIGL is down -44.66% while the S&P 500 is up 0.21%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, RIGL reported a profit of $55.61 million. Rigel Pharmaceuticals Inc. also saw revenues increase to $55.76 million. In addition, RIGL has free cash flow of -$3.7 million as of 03-2020. The company’s EBITDA came in at $21.06 million which compares well with its peers.
RIGL booked profit margins of -27.40%, its Return on Equity (ROE) is -40.10%, and its Return on Assets is -18.60%. All told, it is clear that, RIGL needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. RIGL has a short ratio of 2.16 and outstanding shares of 168.47M.
RIGL has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 55.9 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.17. Rigel Pharmaceuticals Inc. RIGL also noted assets of $143.36 million at the end of the last quarter. Investors should also keep an eye on sector updates as RIGL has historically followed its peers on positive news.
All told, Rigel Pharmaceuticals Inc. RIGL has strung together solid data and demonstrated underlying fundamentals. At its current valuation, RIGL represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Rigel Pharmaceuticals Inc. RIGL is now commanding a market cap of 494.89M and a float of 168.05M. RIGL is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of RIGL stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in RIGL, either long or short, and we have not been compensated for this article.