Rigel Pharmaceuticals (NASDAQ:RIGL) Releases Earnings Results, Beats Expectations By $0.79 EPS

Rigel Pharmaceuticals (NASDAQ:RIGL) posted its earnings results on Tuesday. The biotechnology company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.79, Zacks reports. The firm had revenue of $78.70 million during the quarter, compared to the consensus estimate of $55.27 million. Rigel Pharmaceuticals had a net margin of 121.50% and a return on equity of 47.99%.

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

• Commercial revenue grew 14% year over year to $67 million in Q2, led by record TAVALISSE sales of $47.4 million and REZLIDHIA growth of 27% to $8.9 million.
• Rigel expects to make VEPPANU available in mid-August, ahead of its initial schedule, and views the FDA-approved breast cancer therapy as a potential market-leading product and its largest future revenue driver. However, the company is not yet providing VEPPANU sales guidance.
• VEPPANU’s VERITAC-2 results showed median progression-free survival of 5.0 months versus 2.1 months for fulvestrant, with a hazard ratio of 0.57, while discontinuations and dose reductions remained low at 3% and 2%, respectively.
• R289’s dose-expansion study in lower-risk MDS is enrolling, with top-line data expected by year-end; earlier data showed 33% of evaluable patients achieved at least eight weeks of red-blood-cell transfusion independence, but the dataset remains small and preliminary.
• Rigel ended the quarter with $95.3 million in cash and short-term investments, down from $155 million at year-end, while VEPPANU carries a $70 million upfront payment, up to $320 million in potential payments, tiered royalties in the mid-teens to mid-20s, and up to $40 million of development funding obligations.

Rigel Pharmaceuticals Stock Up 1.7%

RIGL stock traded up $0.65 during mid-day trading on Wednesday, hitting $39.35. 269,022 shares of the company were exchanged, compared to its average volume of 375,534. The firm has a fifty day simple moving average of $36.27 and a 200 day simple moving average of $32.95. The company has a market capitalization of $728.03 million, a PE ratio of 2.10 and a beta of 1.16. Rigel Pharmaceuticals has a twelve month low of $24.95 and a twelve month high of $52.24. The company has a current ratio of 2.62, a quick ratio of 2.48 and a debt-to-equity ratio of 0.04.

Insider Activity at Rigel Pharmaceuticals

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

Hedge Funds Weigh In On Rigel Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Rigel Pharmaceuticals by 96.9% during the fourth quarter. State Street Corp now owns 1,091,223 shares of the biotechnology company’s stock worth $46,737,000 after purchasing an additional 536,905 shares during the period. Marshall Wace LLP grew its position in shares of Rigel Pharmaceuticals by 2.0% during the 4th quarter. Marshall Wace LLP now owns 613,600 shares of the biotechnology company’s stock valued at $26,280,000 after buying an additional 12,267 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Rigel Pharmaceuticals by 13.7% during the 4th quarter. Renaissance Technologies LLC now owns 539,009 shares of the biotechnology company’s stock valued at $23,086,000 after buying an additional 64,800 shares during the last quarter. Millennium Management LLC raised its stake in Rigel Pharmaceuticals by 309.7% during the fourth quarter. Millennium Management LLC now owns 431,460 shares of the biotechnology company’s stock worth $18,479,000 after acquiring an additional 326,159 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in Rigel Pharmaceuticals by 110.6% in the third quarter. Qube Research & Technologies Ltd now owns 360,966 shares of the biotechnology company’s stock worth $10,226,000 after acquiring an additional 189,542 shares during the last quarter. 66.23% of the stock is currently owned by institutional investors.

Key Rigel Pharmaceuticals News

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

• Positive Sentiment: Rigel reported second-quarter revenue of $78.7 million, well above analyst estimates near $55.3 million. Net product sales contributed $67.0 million, while collaboration revenue totaled $11.7 million. Rigel Reports Second Quarter 2026 Financial Results
• Positive Sentiment: The company generated $17.3 million in net income and reported $0.88 in quarterly EPS. This substantially exceeded the $0.09 consensus estimate cited by some market data providers, supporting investor confidence in the company’s commercial performance. Rigel Earnings Report
• Positive Sentiment: Rigel raised or reaffirmed a favorable 2026 revenue outlook of approximately $285 million to $295 million, above the roughly $277.4 million analyst consensus. The outlook includes $255 million to $265 million in product sales, excluding VEPPANU, plus approximately $30 million in collaboration revenue. Rigel 2026 Outlook
• Positive Sentiment: The company expanded its commercial portfolio through the in-licensing of VEPPANU (vepdegestrant), with U.S. commercial availability expected in mid-August. Its R289 program also remains on track toward selecting a recommended Phase 2 dose in the second half of 2026.
• Neutral Sentiment: EPS comparisons varied by data provider: the $0.88 result beat one consensus estimate but missed Zacks’ $0.91 forecast and declined from $3.28 a year earlier. This may temper the bullish reaction despite the revenue and guidance strength. Rigel Q2 Earnings Analysis

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup reissued a “buy” rating and issued a $81.00 target price (up from $69.00) on shares of Rigel Pharmaceuticals in a research note on Wednesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Tuesday, June 2nd. Zacks Research downgraded Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $54.50.

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).