HC Wainwright Issues Pessimistic Estimate for RIGL Earnings

Key Points

• HC Wainwright cut its FY2026 EPS estimate for Rigel to $4.01 from $4.73 (below the consensus of $4.25) and projects FY2027 at $3.40 and FY2028 at $3.91, signaling a more pessimistic outlook.
• Rigel missed its latest quarter, reporting $0.44 EPS vs. $0.80 expected and revenue of $58.82M vs. $62.40M, while the stock trades around $26.24 with a market cap of $485.4M and a P/E of 1.40.
• Analyst coverage is mixed (three Buy, three Hold) with a consensus rating of “Moderate Buy” and an average target price of $51.50, well above the current share price.

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) - Analysts at HC Wainwright dropped their FY2026 earnings per share estimates for shares of Rigel Pharmaceuticals in a research note issued to investors on Wednesday, May 6th. HC Wainwright analyst J. Pantginis now forecasts that the biotechnology company will post earnings per share of $4.01 for the year, down from their prior estimate of $4.73. The consensus estimate for Rigel Pharmaceuticals' current full-year earnings is $4.25 per share. HC Wainwright also issued estimates for Rigel Pharmaceuticals' FY2027 earnings at $3.40 EPS and FY2028 earnings at $3.91 EPS.

Other analysts have also recently issued research reports about the company. Wall Street Zen cut Rigel Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Rigel Pharmaceuticals in a report on Tuesday, April 21st. Zacks Research upgraded Rigel Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 18th. Finally, Citigroup decreased their target price on Rigel Pharmaceuticals from $71.00 to $69.00 and set a "buy" rating for the company in a report on Thursday. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $51.50.

Rigel Pharmaceuticals Stock Down 1.6%

RIGL opened at $26.24 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.62 and a quick ratio of 2.30. The stock has a market capitalization of $485.44 million, a price-to-earnings ratio of 1.40 and a beta of 1.21. The business has a 50-day moving average of $29.07 and a two-hundred day moving average of $35.55. Rigel Pharmaceuticals has a 12 month low of $16.88 and a 12 month high of $52.24.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.36). The company had revenue of $58.82 million for the quarter, compared to analysts' expectations of $62.40 million. Rigel Pharmaceuticals had a return on equity of 47.99% and a net margin of 121.50%.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in Rigel Pharmaceuticals by 37.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 379,541 shares of the biotechnology company's stock worth $10,259,000 after acquiring an additional 102,729 shares during the period. Watershed Asset Management L.L.C. purchased a new position in Rigel Pharmaceuticals in the 1st quarter worth approximately $443,000. Principal Financial Group Inc. raised its position in shares of Rigel Pharmaceuticals by 133.8% in the 1st quarter. Principal Financial Group Inc. now owns 48,646 shares of the biotechnology company's stock valued at $1,315,000 after purchasing an additional 27,843 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Rigel Pharmaceuticals by 11.4% during the 1st quarter. Hsbc Holdings PLC now owns 13,861 shares of the biotechnology company's stock valued at $374,000 after buying an additional 1,417 shares during the last quarter. Finally, Burney Co. purchased a new position in shares of Rigel Pharmaceuticals during the 1st quarter valued at approximately $2,479,000. Hedge funds and other institutional investors own 66.23% of the company's stock.

Insiders Place Their Bets

In other Rigel Pharmaceuticals news, Director Walter H. Moos sold 4,000 shares of the company's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $36.36, for a total value of $145,440.00. Following the completion of the transaction, the director owned 12,722 shares in the company, valued at $462,571.92. This represents a 23.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.47% of the stock is currently owned by corporate insiders.

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).

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