Rigel Pharmaceuticals (NASDAQ:RIGL) Stock Rating Lowered by Zacks Research

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Thursday,Zacks.com reports.

RIGL has been the subject of a number of other research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Rigel Pharmaceuticals in a report on Tuesday, April 21st. Wall Street Zen downgraded Rigel Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Finally, Citigroup decreased their price objective on Rigel Pharmaceuticals from $71.00 to $69.00 and set a "buy" rating for the company in a report on Thursday. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $51.50.

Rigel Pharmaceuticals Price Performance

RIGL stock opened at $26.04 on Thursday. Rigel Pharmaceuticals has a 1 year low of $17.65 and a 1 year high of $52.24. The company has a market cap of $481.74 million, a P/E ratio of 1.39 and a beta of 1.21. The firm has a 50-day moving average of $29.07 and a 200 day moving average of $35.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.62 and a quick ratio of 2.30.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.36). Rigel Pharmaceuticals had a return on equity of 47.99% and a net margin of 121.50%.The company had revenue of $58.82 million during the quarter, compared to the consensus estimate of $62.40 million. On average, sell-side analysts forecast that Rigel Pharmaceuticals will post 3.92 EPS for the current year.

Insider Buying and Selling at Rigel Pharmaceuticals

In other Rigel Pharmaceuticals news, Director Walter H. Moos sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $36.36, for a total transaction of $145,440.00. Following the completion of the transaction, the director owned 12,722 shares of the company's stock, valued at approximately $462,571.92. This trade represents a 23.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.47% of the company's stock.

Hedge Funds Weigh In On Rigel Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. AlphaQuest LLC increased its holdings in shares of Rigel Pharmaceuticals by 234.8% during the third quarter. AlphaQuest LLC now owns 1,105 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 775 shares in the last quarter. IFP Advisors Inc bought a new position in shares of Rigel Pharmaceuticals during the third quarter valued at $55,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rigel Pharmaceuticals by 400.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,275 shares of the biotechnology company's stock valued at $55,000 after acquiring an additional 1,020 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Rigel Pharmaceuticals during the third quarter valued at $62,000. Finally, Wexford Capital LP bought a new position in shares of Rigel Pharmaceuticals during the third quarter valued at $66,000. 66.23% of the stock is currently owned by institutional investors.

Rigel Pharmaceuticals News Summary

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

• Positive Sentiment: Citigroup kept a buy rating on Rigel Pharmaceuticals while trimming its price target only modestly to $69 from $71, which still implies significant upside from current levels. Citigroup price target update
• Neutral Sentiment: HC Wainwright continued to model strong profitability for Rigel, but now expects FY2026 EPS of $4.01, FY2027 EPS of $3.40, and FY2028 EPS of $3.91. The firm’s estimates remain above the current consensus for the year, but they were cut from prior forecasts. HC Wainwright estimate revisions
• Negative Sentiment: HC Wainwright lowered near-term earnings expectations for Rigel, cutting Q2 2026 EPS to $1.11, Q3 2026 EPS to $1.18, and Q4 2026 EPS to $1.26. Lower forecasted earnings can weigh on investor sentiment and help explain the stock’s weakness. HC Wainwright quarterly estimate cuts

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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