Rigel Pharmaceuticals (NASDAQ:RIGL) Releases Quarterly Earnings Results, Misses Estimates By $0.27 EPS

Rigel Pharmaceuticals (NASDAQ:RIGL) announced its quarterly earnings data on Thursday. The biotechnology company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.27), FiscalAI reports. Rigel Pharmaceuticals had a return on equity of 22.95% and a net margin of 116.30%. The firm had revenue of $80.89 million during the quarter, compared to analysts’ expectations of $80.10 million.

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

• Rigel reported record third-quarter net product sales of $72.3 million, up 13% year over year, and said it expects to remain profitable for full-year 2026. Year-to-date product sales rose 17% to $194.2 million.
• VEPPANU generated $6.6 million in sales during roughly six weeks of availability; management said most sales reflected patient demand rather than channel stocking. The company reported shipments to more than 100 patients and clinics, refills by most August starters, and an estimated 88% prior-authorization approval rate.
• Rigel plans to present updated R289 data, including preliminary efficacy from the dose-expansion study, at ASH in December, and aims to select a dose by year-end and start a registrational study in 2027. The company described tolerability as consistent with prior reports, but investors are still awaiting efficacy results and trial-design details.
• Performance among established products was mixed: TAVALISSE sales rose 3% to $46 million and REZLIDHIA grew 20% to $9.9 million, while GAVRETO fell 11% to $9.8 million. Management said TAVALISSE set a record for demand but expects less growth from it as VEPPANU becomes the main growth focus.
• Third-quarter net income declined to $13.2 million from $27.9 million a year earlier as expenses rose, and cash and short-term investments fell to $99.3 million from $155 million at year-end 2025. Rigel narrowed its 2026 net product sales outlook excluding VEPPANU to $255–$260 million, lowering the high end from $265 million.

Rigel Pharmaceuticals Price Performance

RIGL stock traded down $5.43 during trading on Friday, hitting $40.28. 306,988 shares of the company traded hands, compared to its average volume of 340,838. The stock’s 50-day simple moving average is $47.94 and its 200 day simple moving average is $37.46. The company has a market cap of $745.12 million, a PE ratio of 2.47 and a beta of 1.28. Rigel Pharmaceuticals has a 1 year low of $24.95 and a 1 year high of $52.60.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RIGL shares. HC Wainwright reiterated a “buy” rating and issued a $85.00 price target on shares of Rigel Pharmaceuticals in a report on Monday, October 19th. Cantor Fitzgerald lifted their price objective on shares of Rigel Pharmaceuticals from $43.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday. Weiss Ratings raised shares of Rigel Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Zacks Research lowered shares of Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. Finally, Piper Sandler reissued a “neutral” rating and set a $49.00 target price (up from $40.00) on shares of Rigel Pharmaceuticals in a report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $65.50.

Key Headlines Impacting Rigel Pharmaceuticals

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

• Positive Sentiment: Rigel reported third-quarter revenue of $80.9 million, slightly above analysts’ $80.1 million estimate. VEPPANU, which became commercially available in mid-August, contributed $6.6 million in initial product sales. Rigel Reports Third Quarter 2026 Financial Results
• Neutral Sentiment: Cantor Fitzgerald raised its price target from $43 to $47 but maintained a neutral rating, signaling a higher valuation expectation without a bullish change in its recommendation. Cantor Fitzgerald stock recommendations
• Negative Sentiment: Quarterly EPS was $0.65, below consensus estimates of $0.87–$0.92 and down from $1.46 a year earlier. The earnings shortfall is the clearest near-term negative catalyst for the stock. Rigel Pharmaceuticals Misses Q3 Earnings Estimates
• Negative Sentiment: Despite the revenue beat, the earnings miss may overshadow the company’s $13.2 million net income and updated 2026 revenue outlook of approximately $290 million to $295 million. Rigel Reports Third Quarter 2026 Financial Results

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc (NASDAQ:RIGL) is a biotechnology company focused on developing and commercializing therapies for hematologic diseases, cancer and immune-related disorders. Founded in 1996 and headquartered in South San Francisco, California, the company uses small-molecule drug discovery and kinase biology to develop medicines that address unmet medical needs.

Rigel’s primary commercial product is Tavalisse (fostamatinib disodium), an oral spleen tyrosine kinase inhibitor approved in the United States for treating thrombocytopenia in adults with chronic immune thrombocytopenia who have had an insufficient response to previous treatment.