Rigel Pharmaceuticals (NASDAQ:RIGL) Issues Quarterly Earnings Results

Rigel Pharmaceuticals (NASDAQ:RIGL) posted its quarterly earnings results on Thursday. The biotechnology company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.27), FiscalAI reports. 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 during the quarter, compared to the consensus estimate of $80.10 million.

Here are the key takeaways from Rigel Pharmaceuticals’ conference call:

• Rigel reported record third-quarter net product sales of $72.3 million, up 13% year over year, and said it expects to remain profitable for full-year 2026. Year-to-date product sales rose 17% to $194.2 million.
• VEPPANU generated $6.6 million in sales during roughly six weeks of availability; management said most sales reflected patient demand rather than channel stocking. The company reported shipments to more than 100 patients and clinics, refills by most August starters, and an estimated 88% prior-authorization approval rate.
• Rigel plans to present updated R289 data, including preliminary efficacy from the dose-expansion study, at ASH in December, and aims to select a dose by year-end and start a registrational study in 2027. The company described tolerability as consistent with prior reports, but investors are still awaiting efficacy results and trial-design details.
• Performance among established products was mixed: TAVALISSE sales rose 3% to $46 million and REZLIDHIA grew 20% to $9.9 million, while GAVRETO fell 11% to $9.8 million. Management said TAVALISSE set a record for demand but expects less growth from it as VEPPANU becomes the main growth focus.
• Third-quarter net income declined to $13.2 million from $27.9 million a year earlier as expenses rose, and cash and short-term investments fell to $99.3 million from $155 million at year-end 2025. Rigel narrowed its 2026 net product sales outlook excluding VEPPANU to $255–$260 million, lowering the high end from $265 million.

Rigel Pharmaceuticals Stock Performance

Shares of RIGL traded down $5.58 on Thursday, reaching $45.71. The stock had a trading volume of 550,631 shares, compared to its average volume of 200,810. Rigel Pharmaceuticals has a 12-month low of $24.95 and a 12-month high of $52.60. The firm has a market capitalization of $845.63 million, a price-to-earnings ratio of 2.80 and a beta of 1.28. The company has a 50-day simple moving average of $47.94 and a 200-day simple moving average of $37.46.

Key Headlines Impacting Rigel Pharmaceuticals

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

• Positive Sentiment: VEPPANU became commercially available in mid-August and contributed $6.6 million in initial third-quarter product sales, providing an early indication of its launch contribution. Rigel Reports Third Quarter 2026 Financial Results
• Positive Sentiment: Rigel plans to present updated Phase 1b data for R289 in lower-risk MDS at the December ASH meeting, with selection of a recommended Phase 2 dose expected by year-end. The presentation could provide a future clinical catalyst, although no new results were included in the announcement. Rigel Announces R289 ASH Presentation
• Neutral Sentiment: Third-quarter revenue was $80.9 million, narrowly ahead of the $80.1 million analyst estimate. Rigel’s 2026 revenue outlook is approximately $290 million to $295 million; the reports did not provide enough comparison to assess this outlook against prior guidance. Rigel Reports Third Quarter 2026 Financial Results
• Negative Sentiment: Adjusted earnings pressure is a concern: Rigel reported $0.65 per share, below analyst estimates of $0.87–$0.92, and down from $1.46 per share a year earlier. This miss likely weighed on investor sentiment despite the modest revenue beat. Rigel Pharmaceuticals Misses Q3 Earnings Estimates

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RIGL shares. Weiss Ratings upgraded Rigel Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Piper Sandler reissued a “neutral” rating and issued a $49.00 target price (up from $40.00) on shares of Rigel Pharmaceuticals in a research note on Monday, August 17th. Citigroup restated a “buy” rating on shares of Rigel Pharmaceuticals in a report on Thursday, August 6th. Zacks Research lowered Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. Finally, HC Wainwright restated a “buy” rating and set a $85.00 price target on shares of Rigel Pharmaceuticals in a research report on Monday, October 19th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $71.67.

Rigel Pharmaceuticals Company Profile

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.