Rigel Pharmaceuticals (NASDAQ:RIGL) Shares Gap Down Following Weak Earnings

Key Points

• Rigel shares fell sharply after the earnings release, opening at $41.11 versus the prior close of $45.71 and trading near $39.55.
• Third-quarter EPS was $0.65, below the $0.92 consensus, while revenue of $80.89 million slightly beat estimates. Newly launched VEPPANU contributed $6.6 million in initial sales.
• Analyst views remain mixed: the consensus rating is Hold with a $65.50 target price, alongside both Buy and Sell ratings.

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report) gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $45.71, but opened at $41.11. Rigel Pharmaceuticals shares last traded at $39.5460, with a volume of 127,257 shares trading hands.

The biotechnology company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.27). The firm had revenue of $80.89 million during the quarter, compared to analyst estimates of $80.10 million. Rigel Pharmaceuticals had a net margin of 116.30% and a return on equity of 22.95%.

Key Headlines Impacting Rigel Pharmaceuticals

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

• Positive Sentiment: Rigel reported third-quarter revenue of $80.9 million, slightly above analysts’ $80.1 million estimate. VEPPANU, which became commercially available in mid-August, contributed $6.6 million in initial product sales. Rigel Reports Third Quarter 2026 Financial Results
• Neutral Sentiment: Cantor Fitzgerald raised its price target from $43 to $47 but maintained a neutral rating, signaling a higher valuation expectation without a bullish change in its recommendation. Cantor Fitzgerald stock recommendations
• Negative Sentiment: Quarterly EPS was $0.65, below consensus estimates of $0.87–$0.92 and down from $1.46 a year earlier. The earnings shortfall is the clearest near-term negative catalyst for the stock. Rigel Pharmaceuticals Misses Q3 Earnings Estimates
• Negative Sentiment: Despite the revenue beat, the earnings miss may overshadow the company’s $13.2 million net income and updated 2026 revenue outlook of approximately $290 million to $295 million. Rigel Reports Third Quarter 2026 Financial Results

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RIGL shares. HC Wainwright reissued a "buy" rating and issued a $85.00 price target on shares of Rigel Pharmaceuticals in a research note on Monday, October 19th. Cantor Fitzgerald raised their price objective on shares of Rigel Pharmaceuticals from $43.00 to $47.00 and gave the stock a "neutral" rating in a research report on Friday. Zacks Research downgraded shares of Rigel Pharmaceuticals from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 14th. Weiss Ratings upgraded shares of Rigel Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Finally, Citigroup reiterated a "buy" rating on shares of Rigel Pharmaceuticals in a research report on Thursday, August 6th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $65.50.

Hedge Funds Weigh In On Rigel Pharmaceuticals

Large investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its stake in Rigel Pharmaceuticals by 15.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,408 shares of the biotechnology company's stock valued at $167,000 after purchasing an additional 463 shares in the last quarter. Signaturefd LLC raised its holdings in Rigel Pharmaceuticals by 180.0% during the third quarter. Signaturefd LLC now owns 826 shares of the biotechnology company's stock worth $40,000 after buying an additional 531 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Rigel Pharmaceuticals by 1.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 28,803 shares of the biotechnology company's stock worth $779,000 after buying an additional 546 shares during the last quarter. Signature Equity Partners LLC bought a new position in shares of Rigel Pharmaceuticals in the third quarter valued at $27,000. Finally, Quantinno Capital Management LP lifted its stake in shares of Rigel Pharmaceuticals by 4.6% in the first quarter. Quantinno Capital Management LP now owns 12,967 shares of the biotechnology company's stock valued at $351,000 after buying an additional 576 shares in the last quarter. 66.23% of the stock is currently owned by institutional investors.

Rigel Pharmaceuticals Stock Down 15.4%

The stock has a market capitalization of $714.99 million, a P/E ratio of 2.38 and a beta of 1.28. The business's 50 day simple moving average is $47.94 and its two-hundred day simple moving average is $37.46.

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.

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