Rigel Pharmaceuticals (NASDAQ:RIGL) Releases Quarterly Earnings Results, Misses Expectations By $0.27 EPS

Rigel Pharmaceuticals (NASDAQ:RIGL) announced its quarterly earnings data on Thursday. The biotechnology company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.27), FiscalAI reports. The firm had revenue of $80.89 million during the quarter, compared to the consensus estimate of $80.10 million. Rigel Pharmaceuticals had a return on equity of 22.95% and a net margin of 116.30%.

Here are the key takeaways from Rigel Pharmaceuticals’ conference call:

• Rigel reported record third-quarter net product sales of $72.3 million, up 13% year over year, and said it expects to remain profitable for full-year 2026. Year-to-date product sales rose 17% to $194.2 million.
• VEPPANU generated $6.6 million in sales during roughly six weeks of availability; management said most sales reflected patient demand rather than channel stocking. The company reported shipments to more than 100 patients and clinics, refills by most August starters, and an estimated 88% prior-authorization approval rate.
• Rigel plans to present updated R289 data, including preliminary efficacy from the dose-expansion study, at ASH in December, and aims to select a dose by year-end and start a registrational study in 2027. The company described tolerability as consistent with prior reports, but investors are still awaiting efficacy results and trial-design details.
• Performance among established products was mixed: TAVALISSE sales rose 3% to $46 million and REZLIDHIA grew 20% to $9.9 million, while GAVRETO fell 11% to $9.8 million. Management said TAVALISSE set a record for demand but expects less growth from it as VEPPANU becomes the main growth focus.
• Third-quarter net income declined to $13.2 million from $27.9 million a year earlier as expenses rose, and cash and short-term investments fell to $99.3 million from $155 million at year-end 2025. Rigel narrowed its 2026 net product sales outlook excluding VEPPANU to $255–$260 million, lowering the high end from $265 million.

Rigel Pharmaceuticals Stock Down 13.3%

Rigel Pharmaceuticals stock opened at $39.65 on Friday. The business’s 50-day moving average price is $47.79 and its two-hundred day moving average price is $37.47. The stock has a market cap of $733.52 million, a PE ratio of 2.56 and a beta of 1.28. Rigel Pharmaceuticals has a 12-month low of $24.95 and a 12-month high of $52.60.

Key Headlines Impacting Rigel Pharmaceuticals

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

• Positive Sentiment: Third-quarter revenue was $80.9 million, just above the $80.1 million expected, and Rigel reported $13.2 million in net income. Newly launched VEPPANU generated $6.6 million in initial sales after becoming commercially available in mid-August. Rigel Reports Third Quarter 2026 Financial Results
• Neutral Sentiment: Cantor Fitzgerald lifted its price target to $47 from $43, while maintaining a neutral rating. Cantor Fitzgerald price target
• Negative Sentiment: Adjusted earnings were $0.65 per share, missing analyst estimates of roughly $0.87–$0.92 and falling from $1.46 a year earlier. The earnings shortfall is the clearest near-term negative for the stock. Rigel Pharmaceuticals misses Q3 earnings estimates

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Cantor Fitzgerald boosted their target price on shares of Rigel Pharmaceuticals from $43.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday. Piper Sandler reiterated a “neutral” rating and issued a $49.00 target price (up from $40.00) on shares of Rigel Pharmaceuticals in a research report on Monday, August 17th. Weiss Ratings raised shares of Rigel Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Citigroup restated a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Thursday, August 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $85.00 price objective on shares of Rigel Pharmaceuticals in a report on Monday, October 19th. Three 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. According to data from MarketBeat.com, Rigel Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $65.50.

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.