Cantor Fitzgerald Issues Positive Forecast for Rigel Pharmaceuticals (NASDAQ:RIGL) Stock Price

Key Points

• Cantor Fitzgerald raised its price target on Rigel Pharmaceuticals from $43 to $47 but maintained a neutral rating, implying 2.82% upside from the current share price.
• Analyst views are mixed: MarketBeat reports a consensus “Hold” rating and an average target of $65.50, with three Buy, two Hold, and one Sell rating.
• Rigel’s third-quarter revenue of $80.89 million slightly exceeded expectations, but EPS of $0.65 missed the $0.92 consensus estimate. Newly launched VEPPANU contributed $6.6 million in initial sales.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) had its price target boosted by analysts at Cantor Fitzgerald from $43.00 to $47.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a "neutral" rating on the biotechnology company's stock. Cantor Fitzgerald's price target points to a potential upside of 2.82% from the stock's current price.

Several other research analysts also recently weighed in on the stock. Citigroup restated a "buy" rating on shares of Rigel Pharmaceuticals in a research report on Thursday, August 6th. Zacks Research cut Rigel Pharmaceuticals from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 14th. Weiss Ratings upgraded Rigel Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Piper Sandler reissued a "neutral" rating and set a $49.00 target price (up from $40.00) on shares of Rigel Pharmaceuticals in a report on Monday, August 17th. Finally, HC Wainwright restated a "buy" rating and issued a $85.00 target price on shares of Rigel Pharmaceuticals in a research report on Monday, October 19th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rigel Pharmaceuticals has a consensus rating of "Hold" and an average target price of $65.50.

Rigel Pharmaceuticals Stock Performance

Shares of NASDAQ RIGL opened at $45.71 on Friday. The firm has a fifty day moving average of $47.94 and a 200 day moving average of $37.46. The firm has a market cap of $845.63 million, a PE ratio of 2.80 and a beta of 1.28. Rigel Pharmaceuticals has a one year low of $24.95 and a one year high of $52.60.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The biotechnology company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.27). Rigel Pharmaceuticals had a net margin of 116.30% and a return on equity of 22.95%. The company had revenue of $80.89 million for the quarter, compared to analysts' expectations of $80.10 million. On average, equities analysts predict that Rigel Pharmaceuticals will post 2.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Ritholtz Wealth Management increased its stake in shares of Rigel Pharmaceuticals by 13.9% in the 3rd quarter. Ritholtz Wealth Management now owns 107,590 shares of the biotechnology company's stock worth $5,180,000 after acquiring an additional 13,140 shares during the last quarter. Knights of Columbus Asset Advisors LLC purchased a new position in shares of Rigel Pharmaceuticals during the 3rd quarter worth $1,465,000. Signature Equity Partners LLC acquired a new position in shares of Rigel Pharmaceuticals during the 3rd quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Rigel Pharmaceuticals during the 3rd quarter valued at about $46,000. Finally, State of Wyoming purchased a new stake in shares of Rigel Pharmaceuticals in the third quarter valued at about $333,000. 66.23% of the stock is owned by hedge funds and other institutional investors.

Key Rigel Pharmaceuticals News

Here are the key news stories impacting Rigel Pharmaceuticals this week:

• Positive Sentiment: Third-quarter revenue was $80.9 million, modestly above the roughly $80.1 million analyst estimate. Newly launched VEPPANU generated $6.6 million in initial net product sales after becoming commercially available in mid-August. Rigel Reports Third Quarter 2026 Financial Results
• Neutral Sentiment: Rigel forecast 2026 total revenue of approximately $290 million to $295 million, including about $35 million in collaboration revenue. The company expects to select a recommended Phase 2 dose for R289 by year-end and plans to present updated Phase 1b data at the December ASH meeting. Rigel Reports Third Quarter 2026 Financial Results
• Negative Sentiment: Adjusted earnings pressure was the clearest near-term concern: EPS was $0.65, below analyst estimates ranging from $0.87 to $0.92, and down from $1.46 a year earlier. This earnings shortfall likely outweighed the small revenue beat. Rigel Pharmaceuticals Misses Q3 Earnings Estimates

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc NASDAQ: RIGL is a biotechnology company focused on developing and commercializing therapies for hematologic diseases, cancer and immune-related disorders. Founded in 1996 and headquartered in South San Francisco, California, the company uses small-molecule drug discovery and kinase biology to develop medicines that address unmet medical needs.

Rigel's primary commercial product is Tavalisse (fostamatinib disodium), an oral spleen tyrosine kinase inhibitor approved in the United States for treating thrombocytopenia in adults with chronic immune thrombocytopenia who have had an insufficient response to previous treatment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.