Analysts Set Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Price Target at $54.50

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have earned an average recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $54.50.

Several equities research analysts recently weighed in on RIGL shares. Zacks Research lowered Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a report on Friday, July 17th. HC Wainwright reissued a “buy” rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Tuesday, June 2nd. Finally, Citigroup restated a “buy” rating and set a $81.00 target price (up from $69.00) on shares of Rigel Pharmaceuticals in a report on Wednesday, May 13th.

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

Insider Buying and Selling

In other Rigel Pharmaceuticals news, Director Kamil Ali-Jackson sold 2,500 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $35.00, for a total value of $87,500.00. Following the sale, the director owned 10,125 shares in the company, valued at approximately $354,375. This represents a 19.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 10.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Rigel Pharmaceuticals

A number of hedge funds have recently bought and sold shares of RIGL. Northwestern Mutual Wealth Management Co. lifted its position in Rigel Pharmaceuticals by 400.0% in the 4th 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 stake in shares of Rigel Pharmaceuticals in the 3rd quarter worth $62,000. Wexford Capital LP bought a new stake in shares of Rigel Pharmaceuticals in the 3rd quarter worth $66,000. CWM LLC raised its stake in shares of Rigel Pharmaceuticals by 217.0% in the fourth quarter. CWM LLC now owns 1,791 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 1,226 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Rigel Pharmaceuticals by 130.7% in the second quarter. Legal & General Group Plc now owns 4,310 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 2,442 shares during the last quarter. Institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Performance

Shares of RIGL opened at $40.48 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.62 and a quick ratio of 2.48. Rigel Pharmaceuticals has a one year low of $24.95 and a one year high of $52.24. The company has a 50-day simple moving average of $36.49 and a two-hundred day simple moving average of $32.97. The firm has a market capitalization of $748.96 million, a PE ratio of 2.48 and a beta of 1.16.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.79. Rigel Pharmaceuticals had a return on equity of 25.27% and a net margin of 116.30%.The business had revenue of $78.70 million for the quarter, compared to analysts’ expectations of $55.27 million. On average, analysts anticipate that Rigel Pharmaceuticals will post 3.51 EPS for the current fiscal year.

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).