Empowered Funds LLC Takes Position in Rigel Pharmaceuticals, Inc. $RIGL

Empowered Funds LLC bought a new position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) during the 1st quarter, HoldingsChannel reports. The fund bought 82,623 shares of the biotechnology company’s stock, valued at approximately $2,234,000.

A number of other hedge funds also recently modified their holdings of RIGL. Northwestern Mutual Wealth Management Co. raised its stake in Rigel Pharmaceuticals by 400.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,275 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 1,020 shares in the last quarter. CWM LLC lifted its position in Rigel Pharmaceuticals by 217.0% during the fourth quarter. CWM LLC now owns 1,791 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 1,226 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Rigel Pharmaceuticals during the third quarter worth about $62,000. Truvestments Capital LLC grew its stake in Rigel Pharmaceuticals by 120.3% during the fourth quarter. Truvestments Capital LLC now owns 2,207 shares of the biotechnology company’s stock worth $95,000 after buying an additional 1,205 shares in the last quarter. Finally, IFP Advisors Inc grew 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 buying an additional 405 shares in the last quarter. Institutional investors own 66.23% of the company’s stock.

Analyst Ratings Changes

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

Rigel Pharmaceuticals Stock Performance

NASDAQ RIGL opened at $40.48 on Thursday. The firm’s fifty day moving average price is $36.49 and its two-hundred day moving average price is $32.97. The stock has a market cap of $748.96 million, a PE ratio of 2.48 and a beta of 1.16. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.48 and a current ratio of 2.62. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $24.95 and a fifty-two week high of $52.24.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.79. Rigel Pharmaceuticals had a return on equity of 25.27% and a net margin of 116.30%.The company had revenue of $78.70 million during the quarter, compared to analysts’ expectations of $55.27 million. On average, equities analysts expect that Rigel Pharmaceuticals, Inc. will post 3.51 EPS for the current fiscal year.

Key Stories Impacting Rigel Pharmaceuticals

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

• Positive Sentiment: Revenue and profitability exceeded expectations. Rigel reported second-quarter revenue of $78.7 million, including $67.0 million in product sales and $11.7 million in collaboration revenue. Net income was $17.3 million, or $0.88 per share. Revenue substantially exceeded consensus estimates near $55 million, while the EPS result beat some published estimates, including MarketBeat’s $0.09 forecast. Rigel Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Full-year revenue guidance was raised or set above consensus. Rigel expects 2026 total revenue of approximately $285 million to $295 million, compared with analyst expectations of roughly $277 million. The outlook includes $255 million to $265 million in product sales, excluding VEPPANU, and about $30 million in collaboration revenue. Rigel Pharmaceuticals earnings and guidance
• Positive Sentiment: Portfolio expansion could add a new commercial growth driver. Rigel in-licensed VEPPANU (vepdegestrant), with U.S. commercial availability expected in mid-August. The company also said its R289 Phase 1b study in lower-risk myelodysplastic syndromes remains on track to complete dose-expansion enrollment and select a Phase 2 dose during the second half of 2026. Rigel Reports Second Quarter 2026 Financial Results
• Neutral Sentiment: Analyst estimates were inconsistent. Zacks characterized the $0.88 EPS result as a miss against its $0.91 estimate and noted that earnings declined from $3.28 a year earlier. This creates a mixed earnings signal despite the strong revenue performance. Rigel Pharmaceuticals Q2 Earnings Miss Estimates
• Negative Sentiment: A Seeking Alpha analyst downgraded the stock, arguing that the “easy money” has been made. The downgrade suggests that recent gains may already reflect much of the earnings and guidance optimism, increasing the risk of profit-taking or limited near-term upside. Rigel Pharmaceuticals: The Easy Money Has Been Made

Insider Transactions at Rigel Pharmaceuticals

In other Rigel Pharmaceuticals news, Director Kamil Ali-Jackson sold 2,500 shares of the company’s 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 owned 10,125 shares of the company’s stock, valued at $354,375. This represents a 19.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 10.47% of the stock is currently owned by insiders.

Rigel Pharmaceuticals 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).