Empowered Funds LLC Takes Position in Rigel Pharmaceuticals, Inc. $RIGL

Key Points

• Empowered Funds LLC acquired a new 82,623-share stake in Rigel Pharmaceuticals during the first quarter, valued at approximately $2.23 million and representing about 0.45% of the company.
• Institutional investors and hedge funds own 66.23% of RIGL, while insiders hold 10.47%; director Kamil Ali-Jackson sold 2,500 shares to cover tax withholding obligations.
• Analyst sentiment is mixed, with three Buy, two Hold and one Sell rating, producing an overall “Hold” consensus and average price target of $54.50. Rigel’s latest quarterly results exceeded consensus estimates, reporting $0.88 EPS and $78.7 million in revenue.

Empowered Funds LLC bought a new stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 82,623 shares of the biotechnology company's stock, valued at approximately $2,234,000. Empowered Funds LLC owned approximately 0.45% of Rigel Pharmaceuticals at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc lifted its stake in Rigel Pharmaceuticals by 21.8% in the fourth quarter. IFP Advisors Inc now owns 2,264 shares of the biotechnology company's stock valued at $97,000 after acquiring an additional 405 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Rigel Pharmaceuticals by 1.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 28,803 shares of the biotechnology company's stock valued at $779,000 after acquiring an additional 546 shares during the period. Rhumbline Advisers grew its position in shares of Rigel Pharmaceuticals by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 27,065 shares of the biotechnology company's stock valued at $507,000 after acquiring an additional 555 shares during the period. Deutsche Bank AG increased its stake in shares of Rigel Pharmaceuticals by 4.0% during the 4th quarter. Deutsche Bank AG now owns 14,655 shares of the biotechnology company's stock worth $628,000 after purchasing an additional 570 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Rigel Pharmaceuticals by 4.6% during the 1st quarter. Quantinno Capital Management LP now owns 12,967 shares of the biotechnology company's stock worth $351,000 after purchasing an additional 576 shares during the last quarter. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RIGL has been the subject of several recent analyst reports. Zacks Research downgraded shares of Rigel Pharmaceuticals from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 7th. Citigroup reiterated a "buy" rating and set a $81.00 price target (up from $69.00) on shares of Rigel Pharmaceuticals in a report on Wednesday, May 13th. Weiss Ratings reissued a "hold (c+)" rating on shares of Rigel Pharmaceuticals in a research report on Friday, July 17th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $54.50.

Insider Activity

In other Rigel Pharmaceuticals news, Director Kamil Ali-Jackson sold 2,500 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $35.00, for a total transaction of $87,500.00. Following the transaction, the director owned 10,125 shares in the company, valued at $354,375. This represents a 19.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 10.47% of the stock is currently owned by insiders.

Rigel Pharmaceuticals Trading Up 4.6%

Shares of Rigel Pharmaceuticals stock opened at $40.48 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.48 and a current ratio of 2.62. The firm has a 50-day moving average of $36.49 and a 200-day moving average of $32.97. Rigel Pharmaceuticals, Inc. has a 52-week low of $24.95 and a 52-week high of $52.24. The stock has a market cap of $748.96 million, a PE ratio of 2.48 and a beta of 1.16.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.79. Rigel Pharmaceuticals had a net margin of 116.30% and a return on equity of 25.27%. The business had revenue of $78.70 million for the quarter, compared to analyst estimates of $55.27 million. As a group, sell-side analysts forecast that Rigel Pharmaceuticals, Inc. will post 3.51 EPS for the current year.

More Rigel Pharmaceuticals News

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

• Positive Sentiment: Revenue and profitability exceeded expectations. Rigel reported second-quarter revenue of $78.7 million, including $67.0 million in product sales and $11.7 million in collaboration revenue. Net income was $17.3 million, or $0.88 per share. Revenue substantially exceeded consensus estimates near $55 million, while the EPS result beat some published estimates, including MarketBeat’s $0.09 forecast. Rigel Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Full-year revenue guidance was raised or set above consensus. Rigel expects 2026 total revenue of approximately $285 million to $295 million, compared with analyst expectations of roughly $277 million. The outlook includes $255 million to $265 million in product sales, excluding VEPPANU, and about $30 million in collaboration revenue. Rigel Pharmaceuticals earnings and guidance
• Positive Sentiment: Portfolio expansion could add a new commercial growth driver. Rigel in-licensed VEPPANU (vepdegestrant), with U.S. commercial availability expected in mid-August. The company also said its R289 Phase 1b study in lower-risk myelodysplastic syndromes remains on track to complete dose-expansion enrollment and select a Phase 2 dose during the second half of 2026. Rigel Reports Second Quarter 2026 Financial Results
• Neutral Sentiment: Analyst estimates were inconsistent. Zacks characterized the $0.88 EPS result as a miss against its $0.91 estimate and noted that earnings declined from $3.28 a year earlier. This creates a mixed earnings signal despite the strong revenue performance. Rigel Pharmaceuticals Q2 Earnings Miss Estimates
• Negative Sentiment: A Seeking Alpha analyst downgraded the stock, arguing that the “easy money” has been made. The downgrade suggests that recent gains may already reflect much of the earnings and guidance optimism, increasing the risk of profit-taking or limited near-term upside. Rigel Pharmaceuticals: The Easy Money Has Been Made

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.

Rigel's lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).

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.

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