HC Wainwright Issues Pessimistic Forecast for RIGL Earnings

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) – Equities researchers at HC Wainwright cut their FY2026 earnings per share (EPS) estimates for Rigel Pharmaceuticals in a report released on Wednesday, November 5th. HC Wainwright analyst J. Pantginis now forecasts that the biotechnology company will post earnings of $5.19 per share for the year, down from their prior forecast of $5.78. HC Wainwright currently has a “Buy” rating and a $57.00 target price on the stock. The consensus estimate for Rigel Pharmaceuticals’ current full-year earnings is $0.22 per share. HC Wainwright also issued estimates for Rigel Pharmaceuticals’ FY2027 earnings at $6.30 EPS and FY2028 earnings at $7.39 EPS.

Several other equities analysts also recently commented on the stock. Cantor Fitzgerald upped their price target on shares of Rigel Pharmaceuticals from $32.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Jefferies Financial Group upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price target for the company from $23.00 to $42.00 in a research note on Wednesday. Finally, Zacks Research upgraded Rigel Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Rigel Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $39.83.

Rigel Pharmaceuticals Stock Performance

Shares of NASDAQ RIGL opened at $35.19 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.90. The firm has a market cap of $631.20 million, a price-to-earnings ratio of 6.50 and a beta of 1.22. The stock’s fifty day moving average price is $32.27 and its two-hundred day moving average price is $26.28. Rigel Pharmaceuticals has a one year low of $14.63 and a one year high of $43.72.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.53. The company had revenue of $69.46 million for the quarter, compared to analyst estimates of $61.88 million. Rigel Pharmaceuticals had a return on equity of 438.89% and a net margin of 36.51%. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On Rigel Pharmaceuticals

A number of large investors have recently modified their holdings of RIGL. AlphaQuest LLC grew its holdings in shares of 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. Virtus Advisers LLC acquired a new stake in Rigel Pharmaceuticals during the first quarter worth approximately $40,000. RMG Wealth Management LLC bought a new stake in Rigel Pharmaceuticals in the second quarter valued at $41,000. Laurel Wealth Advisors LLC lifted its holdings in shares of Rigel Pharmaceuticals by 1,773.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 2,810 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 2,660 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Rigel Pharmaceuticals by 130.7% during the 2nd quarter. Legal & General Group Plc now owns 4,310 shares of the biotechnology company’s stock valued at $81,000 after purchasing an additional 2,442 shares during the last quarter. Institutional investors and hedge funds own 66.23% of the company’s stock.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing therapies that enhance the lives of patients with hematologic disorders and cancer. The company’s commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; Rezlidhia, a non-intensive monotherapy for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer, as well as for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.