Rigel Pharmaceuticals (NASDAQ:RIGL) Raised to “Hold” at Zacks Research

Rigel Pharmaceuticals (NASDAQ:RIGL) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also commented on RIGL. Piper Sandler reaffirmed a “neutral” rating and issued a $49.00 price objective (up from $40.00) on shares of Rigel Pharmaceuticals in a research report on Monday. Weiss Ratings raised shares of Rigel Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. HC Wainwright restated a “buy” rating and set a $85.00 price target (up from $57.00) on shares of Rigel Pharmaceuticals in a research note on Friday. Finally, Citigroup restated a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Rigel Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $59.00.

Rigel Pharmaceuticals Price Performance

NASDAQ RIGL opened at $43.62 on Monday. The stock has a market capitalization of $806.97 million, a price-to-earnings ratio of 2.67 and a beta of 1.16. Rigel Pharmaceuticals has a one year low of $24.95 and a one year high of $52.24. The business’s fifty day moving average is $38.55 and its 200-day moving average is $33.26.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.79. The company had revenue of $78.70 million for the quarter, compared to the consensus estimate of $55.27 million. Rigel Pharmaceuticals had a net margin of 116.30% and a return on equity of 22.95%. Research analysts expect that Rigel Pharmaceuticals will post 2.98 EPS for the current fiscal year.

Insider Activity

In other news, Director Kamil Ali-Jackson sold 2,500 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $354,375. This trade represents a 19.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 corporate insiders.

Institutional Trading of Rigel Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Rigel Pharmaceuticals in the second quarter valued at approximately $75,886,000. State Street Corp increased its holdings in Rigel Pharmaceuticals by 96.9% during the 4th quarter. State Street Corp now owns 1,091,223 shares of the biotechnology company’s stock worth $46,737,000 after acquiring an additional 536,905 shares during the period. LSV Asset Management lifted its stake in Rigel Pharmaceuticals by 390.8% in the 4th quarter. LSV Asset Management now owns 544,282 shares of the biotechnology company’s stock worth $23,312,000 after purchasing an additional 433,382 shares in the last quarter. Millennium Management LLC boosted its holdings in Rigel Pharmaceuticals by 309.7% in the 4th quarter. Millennium Management LLC now owns 431,460 shares of the biotechnology company’s stock valued at $18,479,000 after purchasing an additional 326,159 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Rigel Pharmaceuticals by 63.0% during the 3rd quarter. Marshall Wace LLP now owns 601,333 shares of the biotechnology company’s stock valued at $17,036,000 after purchasing an additional 232,383 shares in the last quarter. 66.23% of the stock is currently owned by institutional investors.

Key Stories Impacting Rigel Pharmaceuticals

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

• Positive Sentiment: HC Wainwright increased its Q3 2026 EPS estimate to $0.99 from $0.68 and its Q4 estimate to $0.94 from $0.81. The firm also raised its FY2026 forecast to $3.26 from $2.81, reinforcing expectations for improving profitability. MarketBeat Rigel Pharmaceuticals analyst estimates
• Positive Sentiment: HC Wainwright’s longer-term projections were upgraded sharply, including EPS estimates of $5.26 for FY2027, $5.88 for FY2028, $6.76 for FY2029 and $7.95 for FY2030. These revisions suggest the analyst expects significant earnings growth from Rigel’s business. MarketBeat Rigel Pharmaceuticals earnings forecasts
• Positive Sentiment: HC Wainwright maintained its Buy rating and $85 price objective, a notably bullish view compared with the stock’s current price. MarketBeat Rigel Pharmaceuticals price target
• Neutral Sentiment: Zacks upgraded Rigel from Strong Sell to Hold. The change removes a bearish signal, but a Hold rating does not represent a strong expectation for additional gains. Zacks Rigel Pharmaceuticals rating

About Rigel Pharmaceuticals

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).