Rigel Pharmaceuticals (NASDAQ:RIGL) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Rigel Pharmaceuticals (NASDAQ:RIGL) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks.com reports.

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

Rigel Pharmaceuticals Stock Performance

Rigel Pharmaceuticals stock opened at $43.62 on Monday. Rigel Pharmaceuticals has a fifty-two week low of $24.95 and a fifty-two week high of $52.24. The stock has a market cap of $806.97 million, a P/E ratio of 2.67 and a beta of 1.16. The firm’s fifty day moving average price is $38.55 and its 200-day moving average price is $33.26.

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

Insiders Place Their Bets

In other Rigel Pharmaceuticals news, Director Kamil Ali-Jackson sold 2,500 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $35.00, for a total transaction of $87,500.00. Following the completion of the sale, the director directly owned 10,125 shares in the company, valued at $354,375. This represents a 19.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 10.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Rigel Pharmaceuticals during the 2nd quarter valued at $75,886,000. State Street Corp grew its holdings in Rigel Pharmaceuticals by 96.9% in 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 last quarter. LSV Asset Management grew its holdings 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 acquiring an additional 433,382 shares during the last quarter. Millennium Management LLC increased its position in shares of Rigel Pharmaceuticals by 309.7% in the fourth quarter. Millennium Management LLC now owns 431,460 shares of the biotechnology company’s stock valued at $18,479,000 after acquiring an additional 326,159 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Rigel Pharmaceuticals by 63.0% in the third quarter. Marshall Wace LLP now owns 601,333 shares of the biotechnology company’s stock valued at $17,036,000 after acquiring an additional 232,383 shares during the period. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals News Roundup

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).