Rigel Pharmaceuticals (NASDAQ:RIGL) Shares Gap Down – Here’s Why

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) gapped down before the market opened on Wednesday . The stock had previously closed at $33.02, but opened at $30.28. Rigel Pharmaceuticals shares last traded at $29.34, with a volume of 307,501 shares changing hands.

Key Stories Impacting Rigel Pharmaceuticals

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

• Positive Sentiment: Record product sales and strong revenue: Q4 product sales were $65.4M and total Q4 revenue was ~$69.8M; full‑year 2025 revenue was ~$294.3M, reflecting durable product performance. Rigel Provides Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update
• Positive Sentiment: Pipeline progress: enrollment in the dose‑expansion phase of the Phase 1b R289 program (lower‑risk MDS) is ongoing and management expects to complete enrollment and pick a Phase 2 dose in H2‑2026 — a clear clinical milestone for longer‑term upside. How The Rigel Pharmaceuticals (RIGL) Story Is Shifting With New Targets And Pipeline Progress
• Neutral Sentiment: Company reiterated FY2026 revenue guidance of $275M–$290M and expects positive net income for the year; this frames expectations but leaves a modest range for investor interpretation. (Company guidance entry)
• Neutral Sentiment: Full materials and management commentary are available (earnings slide deck and transcript) for investors who want the details on drivers and one‑offs. Q4 Results – Earnings Call Presentation Earnings Call Transcript
• Negative Sentiment: GAAP net income was materially inflated by a non‑cash deferred income tax benefit (~$245.9M), producing huge reported net income for Q4 and FY2025; investors may be discounting the headline EPS as not reflective of operational cash earnings. Rigel Provides Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update
• Negative Sentiment: Conflicting EPS headlines: some services show a large GAAP EPS beat (driven by the tax benefit) while others report adjusted EPS misses (Zacks: $1.14 vs. $1.33 est.), creating investor confusion and skepticism. Rigel Pharmaceuticals (RIGL) Q4 Earnings Miss Estimates
• Negative Sentiment: Analyst stance: consensus analyst rating noted as “Hold,” which limits upward momentum in the absence of clearer, sustained operational beats or near‑term clinical catalysts. Receives Consensus Recommendation of Hold from Analysts

Analyst Upgrades and Downgrades

RIGL has been the topic of a number of research analyst reports. Cantor Fitzgerald lifted their target price on Rigel Pharmaceuticals from $32.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a report on Thursday, January 22nd. Wall Street Zen raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Citigroup reissued a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, January 14th. Finally, Jefferies Financial Group upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the stock from $23.00 to $42.00 in a report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $43.20.

Rigel Pharmaceuticals Price Performance

The company’s 50-day moving average price is $37.76 and its 200-day moving average price is $37.43. The company has a quick ratio of 2.14, a current ratio of 2.28 and a debt-to-equity ratio of 0.25. The firm has a market cap of $534.88 million, a price-to-earnings ratio of 4.78 and a beta of 1.10.

Insider Transactions at Rigel Pharmaceuticals

In other Rigel Pharmaceuticals news, Director Walter H. Moos sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $36.36, for a total value of $145,440.00. Following the completion of the transaction, the director owned 12,722 shares of the company’s stock, valued at $462,571.92. This trade represents a 23.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 9.04% of the stock is currently owned by company insiders.

Institutional Trading of Rigel Pharmaceuticals

A number of large investors have recently modified their holdings of RIGL. State Street Corp boosted its holdings in Rigel Pharmaceuticals by 96.9% in the fourth quarter. State Street Corp now owns 1,091,223 shares of the biotechnology company’s stock valued at $46,737,000 after purchasing an additional 536,905 shares during the period. LSV Asset Management raised its position in Rigel Pharmaceuticals by 390.8% in the 4th quarter. LSV Asset Management now owns 544,282 shares of the biotechnology company’s stock valued at $23,312,000 after purchasing an additional 433,382 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Rigel Pharmaceuticals by 309.7% in the 4th quarter. Millennium Management LLC now owns 431,460 shares of the biotechnology company’s stock valued at $18,479,000 after buying an additional 326,159 shares during the period. Marshall Wace LLP grew its position in shares of Rigel Pharmaceuticals by 63.0% during the third quarter. Marshall Wace LLP now owns 601,333 shares of the biotechnology company’s stock worth $17,036,000 after buying an additional 232,383 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in shares of Rigel Pharmaceuticals by 110.6% during the third quarter. Qube Research & Technologies Ltd now owns 360,966 shares of the biotechnology company’s stock worth $10,226,000 after buying an additional 189,542 shares during the period. Hedge funds and other institutional investors own 66.23% of the company’s stock.

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).