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

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)’s stock price gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. 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 changing hands.

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

Rigel Pharmaceuticals News Roundup

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 Analysts Forecast Growth

Several brokerages have recently commented on RIGL. Cantor Fitzgerald increased their price objective on Rigel Pharmaceuticals from $43.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and set a $85.00 target price on shares of Rigel Pharmaceuticals in a research report on Monday, October 19th. Citigroup reiterated a “buy” rating on shares of Rigel Pharmaceuticals in a report on Thursday, August 6th. Zacks Research lowered Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. Finally, Piper Sandler reissued a “neutral” rating and issued a $49.00 price target (up from $40.00) on shares of Rigel Pharmaceuticals in a research report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $65.50.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in RIGL. Ritholtz Wealth Management lifted its position in shares of Rigel Pharmaceuticals by 13.9% during the 3rd quarter. Ritholtz Wealth Management now owns 107,590 shares of the biotechnology company’s stock worth $5,180,000 after buying an additional 13,140 shares in the last quarter. Knights of Columbus Asset Advisors LLC bought a new position in shares of Rigel Pharmaceuticals in the third quarter valued at approximately $1,465,000. Signature Equity Partners LLC bought a new position in shares of Rigel Pharmaceuticals in the third quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Rigel Pharmaceuticals in the third quarter valued at approximately $46,000. Finally, State of Wyoming purchased a new stake in shares of Rigel Pharmaceuticals during the third quarter valued at approximately $333,000. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Down 15.4%

The company has a market capitalization of $714.99 million, a PE ratio of 2.38 and a beta of 1.28. The stock has a 50-day moving average of $47.94 and a 200 day moving average of $37.46.

About Rigel Pharmaceuticals

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.