Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Stock Rated “Hold” by Wall Street Brokerages

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $65.50.

A number of equities research analysts recently commented on the company. Citigroup reissued a “buy” rating on shares of Rigel Pharmaceuticals in a research report on Thursday, August 6th. Cantor Fitzgerald lifted their price objective on shares of Rigel Pharmaceuticals from $43.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday. HC Wainwright reiterated a “buy” rating and issued a $85.00 target price on shares of Rigel Pharmaceuticals in a research note on Monday, October 19th. Weiss Ratings upgraded shares of Rigel Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Piper Sandler reissued a “neutral” rating and set a $49.00 price target (up from $40.00) on shares of Rigel Pharmaceuticals in a research report on Monday, August 17th.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Rigel Pharmaceuticals during the second quarter valued at about $75,886,000. Assenagon Asset Management S.A. bought a new stake in Rigel Pharmaceuticals in the third quarter worth about $25,793,000. Dimensional Fund Advisors LP raised its position in Rigel Pharmaceuticals by 37.1% in the first quarter. Dimensional Fund Advisors LP now owns 379,541 shares of the biotechnology company’s stock worth $10,259,000 after acquiring an additional 102,729 shares during the period. Ritholtz Wealth Management raised its position in Rigel Pharmaceuticals by 13.9% in the third quarter. Ritholtz Wealth Management now owns 107,590 shares of the biotechnology company’s stock worth $5,180,000 after acquiring an additional 13,140 shares during the period. Finally, Bank of America Corp DE purchased a new position in Rigel Pharmaceuticals in the second quarter valued at about $4,832,000. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Performance

Shares of RIGL opened at $39.65 on Monday. The firm has a market capitalization of $733.52 million, a P/E ratio of 2.56 and a beta of 1.28. Rigel Pharmaceuticals has a 52 week low of $24.95 and a 52 week high of $52.60. The stock has a 50 day moving average price of $47.79 and a two-hundred day moving average price of $37.47.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its earnings results on Thursday, November 5th. The biotechnology company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.27). The company 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 106.59% and a return on equity of 15.25%. On average, equities analysts forecast that Rigel Pharmaceuticals will post 2.98 earnings per share for the current year.

Key Stories Impacting Rigel Pharmaceuticals

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

• Positive Sentiment: Third-quarter revenue was $80.9 million, just above the $80.1 million expected, and Rigel reported $13.2 million in net income. Newly launched VEPPANU generated $6.6 million in initial sales after becoming commercially available in mid-August. Rigel Reports Third Quarter 2026 Financial Results
• Neutral Sentiment: Cantor Fitzgerald lifted its price target to $47 from $43, while maintaining a neutral rating. Cantor Fitzgerald price target
• Negative Sentiment: Adjusted earnings were $0.65 per share, missing analyst estimates of roughly $0.87–$0.92 and falling from $1.46 a year earlier. The earnings shortfall is the clearest near-term negative for the stock. Rigel Pharmaceuticals misses Q3 earnings estimates

Rigel Pharmaceuticals Company Profile

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.