Citigroup Issues Pessimistic Forecast for Rigel Pharmaceuticals (NASDAQ:RIGL) Stock Price

Rigel Pharmaceuticals (NASDAQ:RIGL) had its target price reduced by equities research analysts at Citigroup from $71.00 to $69.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Citigroup’s price objective suggests a potential upside of 164.98% from the company’s previous close.

A number of other brokerages also recently commented on RIGL. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research report on Tuesday, April 21st. Wall Street Zen downgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Zacks Research raised shares of Rigel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.50.

Rigel Pharmaceuticals Stock Down 0.8%

RIGL stock opened at $26.04 on Thursday. Rigel Pharmaceuticals has a 52-week low of $17.65 and a 52-week high of $52.24. The company’s 50 day simple moving average is $29.07 and its 200-day simple moving average is $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. The firm has a market capitalization of $481.74 million, a P/E ratio of 1.39 and a beta of 1.21.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.36). Rigel Pharmaceuticals had a net margin of 121.50% and a return on equity of 47.99%. The firm had revenue of $58.82 million for the quarter, compared to analyst estimates of $62.40 million. As a group, equities research analysts anticipate that Rigel Pharmaceuticals will post 3.92 EPS for the current year.

Insider Buying and Selling

In other Rigel Pharmaceuticals news, Director Walter H. Moos sold 4,000 shares of the business’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 sale, the director directly owned 12,722 shares of the company’s stock, valued at $462,571.92. The trade was a 23.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.47% of the stock is owned by corporate insiders.

Institutional Trading of Rigel Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. AlphaQuest LLC raised its stake in Rigel Pharmaceuticals by 234.8% during the 3rd quarter. AlphaQuest LLC now owns 1,105 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 775 shares during the last quarter. IFP Advisors Inc acquired a new position in Rigel Pharmaceuticals during the 3rd quarter valued at $55,000. Northwestern Mutual Wealth Management Co. raised its stake in Rigel Pharmaceuticals by 400.0% during 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 last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Rigel Pharmaceuticals during the 3rd quarter valued at $62,000. Finally, Wexford Capital LP acquired a new position in Rigel Pharmaceuticals during the 3rd quarter valued at $66,000. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Rigel Pharmaceuticals News Roundup

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

• Positive Sentiment: Citigroup kept a buy rating on Rigel Pharmaceuticals while trimming its price target only modestly to $69 from $71, which still implies significant upside from current levels. Citigroup price target update
• Neutral Sentiment: HC Wainwright continued to model strong profitability for Rigel, but now expects FY2026 EPS of $4.01, FY2027 EPS of $3.40, and FY2028 EPS of $3.91. The firm’s estimates remain above the current consensus for the year, but they were cut from prior forecasts. HC Wainwright estimate revisions
• Negative Sentiment: HC Wainwright lowered near-term earnings expectations for Rigel, cutting Q2 2026 EPS to $1.11, Q3 2026 EPS to $1.18, and Q4 2026 EPS to $1.26. Lower forecasted earnings can weigh on investor sentiment and help explain the stock’s weakness. HC Wainwright quarterly estimate cuts

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).