Rigel Pharmaceuticals (NASDAQ:RIGL) Issues Earnings Results

Rigel Pharmaceuticals (NASDAQ:RIGL) announced its earnings results on Tuesday. The biotechnology company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.36), FiscalAI reports. The business had revenue of $58.82 million during the quarter, compared to the consensus estimate of $62.40 million. Rigel Pharmaceuticals had a return on equity of 79.84% and a net margin of 124.72%.

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

• Q1 sales growth: Net product sales were $54.9M, up 26% YoY (TAVALISSE +31%, REZLIDHIA +31%), with demand improving in March after typical Q1 seasonal dynamics.
• Guidance and profitability: Rigel maintained 2026 guidance of $275M–$290M total revenue (net product sales $255M–$265M) and reiterated it remains on track to report net income profitability for the year.
• R289 progress: The Phase I‑B program showed encouraging safety and efficacy (33% of evaluable patients ≥500 mg achieved ≥8‑week transfusion independence), with dose‑expansion topline data expected by year‑end and potential registrational discussions in 2027.
• Business development and financing: Rigel is targeting late‑stage in‑licenses/acquisitions to support 2026–2028 launches and restructured debt into a $40M revolving credit facility (option to $60M), drawing $8M to provide flexible funding.
• Lilly will terminate the RIPK1 collaboration (ocadusertib) effective June 15, 2026; Rigel will regain the program but indicated RIPK1 is not central to its hematology/oncology strategy, creating near‑term uncertainty for that asset.

Rigel Pharmaceuticals Price Performance

Shares of Rigel Pharmaceuticals stock traded down $1.45 during trading on Tuesday, hitting $28.09. 465,832 shares of the stock traded hands, compared to its average volume of 367,712. The company has a quick ratio of 2.30, a current ratio of 2.42 and a debt-to-equity ratio of 0.06. The stock has a market cap of $519.10 million, a price-to-earnings ratio of 1.49 and a beta of 1.21. The firm’s fifty day moving average is $29.53 and its 200-day moving average is $35.57. Rigel Pharmaceuticals has a 52 week low of $16.88 and a 52 week high of $52.24.

Insiders Place Their Bets

In related news, Director Walter H. Moos sold 4,000 shares of the stock in a transaction dated 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 in the company, valued at $462,571.92. This represents a 23.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in Rigel Pharmaceuticals by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 27,065 shares of the biotechnology company’s stock valued at $507,000 after acquiring an additional 555 shares during the period. Deutsche Bank AG lifted its holdings in Rigel Pharmaceuticals by 4.0% in the 4th quarter. Deutsche Bank AG now owns 14,655 shares of the biotechnology company’s stock worth $628,000 after buying an additional 570 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Rigel Pharmaceuticals by 400.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,275 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 1,020 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Rigel Pharmaceuticals by 12.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,434 shares of the biotechnology company’s stock valued at $447,000 after purchasing an additional 1,149 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Rigel Pharmaceuticals by 1.9% in the 4th quarter. Wells Fargo & Company MN now owns 61,999 shares of the biotechnology company’s stock valued at $2,655,000 after purchasing an additional 1,171 shares during the period. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RIGL shares. Zacks Research upgraded Rigel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Citigroup restated a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, January 14th. Wall Street Zen lowered Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Rigel Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $45.67.

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).