Rigel Pharmaceuticals (NASDAQ:RIGL) Lowered to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Rigel Pharmaceuticals (NASDAQ:RIGL) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks.com reports.

A number of other research firms also recently issued reports on RIGL. Citigroup decreased their target price on Rigel Pharmaceuticals from $71.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday. Wall Street Zen downgraded Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.50.

Rigel Pharmaceuticals Stock Performance

Shares of RIGL opened at $26.04 on Thursday. The company has a current ratio of 2.62, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $481.74 million, a price-to-earnings ratio of 1.39 and a beta of 1.21. The stock has a 50 day moving average of $29.07 and a 200 day moving average of $35.55. Rigel Pharmaceuticals has a 12 month low of $17.65 and a 12 month high of $52.24.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its earnings results on Tuesday, May 5th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.36). Rigel Pharmaceuticals had a return on equity of 47.99% and a net margin of 121.50%.The firm had revenue of $58.82 million during the quarter, compared to analysts’ expectations of $62.40 million. As a group, sell-side analysts forecast that Rigel Pharmaceuticals will post 3.92 earnings per share for the current year.

Insider Activity at Rigel Pharmaceuticals

In other news, Director Walter H. Moos sold 4,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $36.36, for a total value of $145,440.00. Following the completion of the transaction, the director directly owned 12,722 shares of the company’s stock, valued at $462,571.92. This trade represents a 23.92% 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. 10.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Rigel Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Beacon Harbor Wealth Advisors Inc. bought a new stake in Rigel Pharmaceuticals during the third quarter valued at $4,310,000. Hennion & Walsh Asset Management Inc. bought a new stake in Rigel Pharmaceuticals during the fourth quarter valued at $2,235,000. Ruffer LLP bought a new stake in Rigel Pharmaceuticals during the fourth quarter valued at $1,598,000. Alps Advisors Inc. purchased a new stake in Rigel Pharmaceuticals during the third quarter valued at about $578,000. Finally, Ritholtz Wealth Management increased its holdings in Rigel Pharmaceuticals by 961.3% during the 4th quarter. Ritholtz Wealth Management now owns 80,593 shares of the biotechnology company’s stock valued at $3,452,000 after purchasing an additional 72,999 shares during the period. 66.23% of the stock is owned by institutional investors.

Rigel Pharmaceuticals News Roundup

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

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).