HC Wainwright Issues Pessimistic Estimate for RIGL Earnings

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Equities research analysts at HC Wainwright decreased their FY2026 earnings per share (EPS) estimates for Rigel Pharmaceuticals in a note issued to investors on Wednesday, May 6th. HC Wainwright analyst J. Pantginis now forecasts that the biotechnology company will post earnings per share of $4.01 for the year, down from their previous forecast of $4.73. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $4.25 per share. HC Wainwright also issued estimates for Rigel Pharmaceuticals’ FY2027 earnings at $3.40 EPS and FY2028 earnings at $3.91 EPS.

RIGL has been the subject of a number of other reports. Citigroup lowered their price objective on Rigel Pharmaceuticals from $71.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday. Zacks Research upgraded Rigel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research note on Tuesday, April 21st. Finally, Wall Street Zen downgraded Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.50.

Rigel Pharmaceuticals Price Performance

Shares of RIGL opened at $26.24 on Friday. The company has a market cap of $485.44 million, a P/E ratio of 1.40 and a beta of 1.21. The stock has a fifty day moving average price of $29.07 and a 200 day moving average price of $35.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.62 and a quick ratio of 2.30. Rigel Pharmaceuticals has a 12 month low of $16.88 and a 12 month high of $52.24.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.36). The company had revenue of $58.82 million for the quarter, compared to the consensus estimate of $62.40 million. Rigel Pharmaceuticals had a return on equity of 47.99% and a net margin of 121.50%.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. State Street Corp lifted its stake 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 in the last quarter. Armistice Capital LLC raised its stake in shares of Rigel Pharmaceuticals by 15.5% during the 4th quarter. Armistice Capital LLC now owns 836,000 shares of the biotechnology company’s stock worth $35,806,000 after purchasing an additional 112,000 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Rigel Pharmaceuticals by 2.0% during the 4th quarter. Marshall Wace LLP now owns 613,600 shares of the biotechnology company’s stock worth $26,280,000 after purchasing an additional 12,267 shares in the last quarter. LSV Asset Management raised 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 worth $23,312,000 after purchasing an additional 433,382 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Rigel Pharmaceuticals by 13.7% during the 4th quarter. Renaissance Technologies LLC now owns 539,009 shares of the biotechnology company’s stock worth $23,086,000 after purchasing an additional 64,800 shares in the last quarter. 66.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Rigel Pharmaceuticals

In other news, Director Walter H. Moos sold 4,000 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $36.36, for a total transaction of $145,440.00. Following the completion of the sale, the director directly owned 12,722 shares of the company’s stock, valued at $462,571.92. This represents a 23.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.47% of the stock is owned by insiders.

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).