Zacks Research Downgrades Rigel Pharmaceuticals (NASDAQ:RIGL) to Strong Sell

Rigel Pharmaceuticals (NASDAQ:RIGL) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other equities research analysts also recently commented on RIGL. Wall Street Zen downgraded Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Citigroup reduced their price objective on Rigel Pharmaceuticals from $71.00 to $69.00 and set a “buy” rating for the company in a report on Thursday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Rigel Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $51.50.

Rigel Pharmaceuticals Price Performance

Shares of RIGL opened at $26.04 on Thursday. The company has a market capitalization of $481.74 million, a P/E ratio of 1.39 and a beta of 1.21. The company has a quick ratio of 2.30, a current ratio of 2.62 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $29.07 and a 200 day moving average of $35.55. Rigel Pharmaceuticals has a twelve month low of $17.65 and a twelve month high of $52.24.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.36). The firm had revenue of $58.82 million for the quarter, compared to the consensus estimate of $62.40 million. Rigel Pharmaceuticals had a net margin of 121.50% and a return on equity of 47.99%. As a group, equities research analysts anticipate that Rigel Pharmaceuticals will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rigel Pharmaceuticals news, Director Walter H. Moos sold 4,000 shares of Rigel Pharmaceuticals 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 completion of the sale, the director 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 10.47% of the company’s stock.

Institutional Investors Weigh In On Rigel Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in RIGL. State Street Corp grew its stake in shares of Rigel Pharmaceuticals by 96.9% during the 4th quarter. State Street Corp now owns 1,091,223 shares of the biotechnology company’s stock valued at $46,737,000 after purchasing an additional 536,905 shares during the period. LSV Asset Management grew its stake in shares of Rigel Pharmaceuticals by 390.8% during the 4th quarter. LSV Asset Management now owns 544,282 shares of the biotechnology company’s stock valued at $23,312,000 after purchasing an additional 433,382 shares during the period. Millennium Management LLC grew its stake in shares of Rigel Pharmaceuticals by 309.7% during 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. Marshall Wace LLP grew its stake 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 during the period. Finally, Qube Research & Technologies Ltd grew its stake in shares of Rigel Pharmaceuticals by 110.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 360,966 shares of the biotechnology company’s stock valued at $10,226,000 after purchasing an additional 189,542 shares during the period. Institutional investors own 66.23% of the company’s stock.

Trending Headlines about Rigel Pharmaceuticals

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).