Cantor Fitzgerald Forecasts Strong Price Appreciation for Rigel Pharmaceuticals (NASDAQ:RIGL) Stock

Rigel Pharmaceuticals (NASDAQ:RIGL) had its price target lifted by Cantor Fitzgerald from $43.00 to $47.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. Cantor Fitzgerald‘s price target would suggest a potential upside of 2.82% from the stock’s previous close.

RIGL has been the topic of several other research reports. Citigroup reaffirmed a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Thursday, August 6th. Zacks Research downgraded Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. HC Wainwright restated a “buy” rating and issued a $85.00 price objective on shares of Rigel Pharmaceuticals in a report on Monday, October 19th. Piper Sandler reaffirmed 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. Finally, Weiss Ratings upgraded shares of Rigel Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Rigel Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $65.50.

Rigel Pharmaceuticals Stock Performance

RIGL opened at $45.71 on Friday. Rigel Pharmaceuticals has a one year low of $24.95 and a one year high of $52.60. The stock has a market capitalization of $845.63 million, a PE ratio of 2.80 and a beta of 1.28. The business’s 50 day moving average price is $47.94 and its 200 day moving average price is $37.46.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Thursday, November 5th. 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 analysts’ expectations of $80.10 million. Rigel Pharmaceuticals had a return on equity of 22.95% and a net margin of 116.30%. As a group, equities research analysts forecast that Rigel Pharmaceuticals will post 2.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. grew its holdings in shares of Rigel Pharmaceuticals by 15.7% in the third 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 lifted its holdings in Rigel Pharmaceuticals by 180.0% during the 3rd quarter. Signaturefd LLC now owns 826 shares of the biotechnology company’s stock worth $40,000 after buying an additional 531 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in Rigel Pharmaceuticals by 1.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 28,803 shares of the biotechnology company’s stock valued at $779,000 after acquiring an additional 546 shares during the last quarter. Signature Equity Partners LLC acquired a new position in Rigel Pharmaceuticals in the third quarter valued at $27,000. Finally, Quantinno Capital Management LP boosted its stake in 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 acquiring an additional 576 shares in the last quarter. Hedge funds and other institutional investors own 66.23% of the company’s stock.

More Rigel Pharmaceuticals News

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

• Positive Sentiment: Third-quarter revenue was $80.9 million, modestly above the roughly $80.1 million analyst estimate. Newly launched VEPPANU generated $6.6 million in initial net product sales after becoming commercially available in mid-August. Rigel Reports Third Quarter 2026 Financial Results
• Neutral Sentiment: Rigel forecast 2026 total revenue of approximately $290 million to $295 million, including about $35 million in collaboration revenue. The company expects to select a recommended Phase 2 dose for R289 by year-end and plans to present updated Phase 1b data at the December ASH meeting. Rigel Reports Third Quarter 2026 Financial Results
• Negative Sentiment: Adjusted earnings pressure was the clearest near-term concern: EPS was $0.65, below analyst estimates ranging from $0.87 to $0.92, and down from $1.46 a year earlier. This earnings shortfall likely outweighed the small revenue beat. Rigel Pharmaceuticals Misses Q3 Earnings Estimates

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.