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

Rigel Pharmaceuticals (NASDAQ:RIGL) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

A number of other brokerages also recently issued reports on RIGL. Wall Street Zen downgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Citigroup lowered their price objective on Rigel Pharmaceuticals from $71.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research note on Tuesday, April 21st. Three research 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. Based on data from MarketBeat.com, Rigel Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $51.50.

Rigel Pharmaceuticals Trading Down 0.8%

Shares of RIGL opened at $26.04 on Thursday. Rigel Pharmaceuticals has a 12-month low of $17.65 and a 12-month high of $52.24. The firm has a market capitalization 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 price of $29.07 and a 200 day moving average price of $35.55. The company has a current ratio of 2.62, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its earnings results on Tuesday, May 5th. The biotechnology company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.36). The firm had revenue of $58.82 million for the quarter, compared to analysts’ expectations of $62.40 million. Rigel Pharmaceuticals had a return on equity of 47.99% and a net margin of 121.50%. 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 news, Director Walter H. Moos sold 4,000 shares of the business’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 value of $145,440.00. Following the sale, the director directly owned 12,722 shares of the company’s stock, valued at approximately $462,571.92. The trade was a 23.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Rigel Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RIGL. IFP Advisors Inc lifted its stake in Rigel Pharmaceuticals by 21.8% during the fourth quarter. IFP Advisors Inc now owns 2,264 shares of the biotechnology company’s stock worth $97,000 after purchasing an additional 405 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of 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 buying an additional 546 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Rigel Pharmaceuticals by 2.1% in the second quarter. Rhumbline Advisers now owns 27,065 shares of the biotechnology company’s stock valued at $507,000 after buying an additional 555 shares in the last quarter. Range Financial Group LLC raised its holdings in shares of Rigel Pharmaceuticals by 1.2% in the 4th quarter. Range Financial Group LLC now owns 45,938 shares of the biotechnology company’s stock valued at $1,968,000 after buying an additional 561 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Rigel Pharmaceuticals by 4.0% in the 4th quarter. Deutsche Bank AG now owns 14,655 shares of the biotechnology company’s stock valued at $628,000 after buying an additional 570 shares during the period. Hedge funds and other institutional investors own 66.23% of the company’s stock.

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).