HC Wainwright Brokers Decrease Earnings Estimates for RIGL

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Analysts at HC Wainwright cut their Q4 2026 earnings per share estimates for shares of Rigel Pharmaceuticals in a note issued to investors on Friday, November 6th. HC Wainwright analyst J. Pantginis now forecasts that the biotechnology company will post earnings of $0.87 per share for the quarter, down from their previous estimate of $0.94. HC Wainwright has a “Buy” rating and a $85.00 price objective on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $2.98 per share. HC Wainwright also issued estimates for Rigel Pharmaceuticals’ FY2027 earnings at $4.78 EPS.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Thursday, November 5th. The biotechnology company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.27). Rigel Pharmaceuticals had a return on equity of 22.95% and a net margin of 116.30%. The business had revenue of $80.89 million for the quarter, compared to analyst estimates of $80.00 million.

Several other equities analysts also recently weighed in on RIGL. Piper Sandler reiterated a “neutral” rating and set a $49.00 target price (up from $40.00) on shares of Rigel Pharmaceuticals in a research report on Monday, August 17th. Citigroup lifted their price target on Rigel Pharmaceuticals from $83.00 to $86.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings raised shares of Rigel Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Cantor Fitzgerald increased 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. Finally, Zacks Research cut shares of Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $66.75.

Rigel Pharmaceuticals Stock Up 6.1%

Shares of NASDAQ:RIGL opened at $42.05 on Monday. The company has a market cap of $777.92 million, a P/E ratio of 2.71 and a beta of 1.28. The business has a fifty day simple moving average of $47.70 and a 200-day simple moving average of $37.50. Rigel Pharmaceuticals has a 52 week low of $24.95 and a 52 week high of $52.60.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Jupiter Topco LLC bought a new position in shares of Rigel Pharmaceuticals in the second quarter valued at approximately $3,450,000. Empowered Funds LLC bought a new stake in Rigel Pharmaceuticals during the 1st quarter valued at approximately $2,234,000. Bank of America Corp DE acquired a new stake in Rigel Pharmaceuticals in the 2nd quarter valued at approximately $4,832,000. Bank of New York Mellon Corp acquired a new stake in Rigel Pharmaceuticals in the 2nd quarter valued at approximately $4,233,000. Finally, Man Group plc bought a new position in Rigel Pharmaceuticals in the 2nd quarter worth approximately $814,000. Institutional investors own 66.23% of the company’s stock.

About Rigel Pharmaceuticals

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.