Rigel Pharmaceuticals (NASDAQ:RIGL) Issues Earnings Results

Rigel Pharmaceuticals (NASDAQ:RIGL) released 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 company had revenue of $58.82 million for the quarter, compared to the consensus estimate of $62.40 million. Rigel Pharmaceuticals had a net margin of 124.72% and a return on equity of 79.84%.

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

NASDAQ RIGL traded down $1.45 during trading hours on Tuesday, hitting $28.09. The company had a trading volume of 465,832 shares, compared to its average volume of 357,683. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.30 and a current ratio of 2.42. The firm has a market capitalization of $519.10 million, a price-to-earnings ratio of 1.49 and a beta of 1.21. Rigel Pharmaceuticals has a 52 week low of $16.88 and a 52 week high of $52.24. The firm has a 50 day simple moving average of $29.39 and a 200 day simple moving average of $35.57.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Walter H. Moos sold 4,000 shares of the company’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 transaction of $145,440.00. Following the sale, the director owned 12,722 shares of the company’s stock, valued at approximately $462,571.92. This represents a 23.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.47% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of Rigel Pharmaceuticals by 96.9% in the fourth quarter. State Street Corp now owns 1,091,223 shares of the biotechnology company’s stock worth $46,737,000 after buying an additional 536,905 shares in the last quarter. Marshall Wace LLP grew its position in Rigel Pharmaceuticals by 2.0% during the fourth quarter. Marshall Wace LLP now owns 613,600 shares of the biotechnology company’s stock worth $26,280,000 after buying an additional 12,267 shares in the last quarter. Renaissance Technologies LLC increased its stake in Rigel Pharmaceuticals by 13.7% in the 4th quarter. Renaissance Technologies LLC now owns 539,009 shares of the biotechnology company’s stock worth $23,086,000 after acquiring an additional 64,800 shares during the last quarter. Millennium Management LLC raised its holdings 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 acquiring an additional 326,159 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Rigel Pharmaceuticals by 110.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 360,966 shares of the biotechnology company’s stock valued at $10,226,000 after acquiring an additional 189,542 shares in the last quarter. Institutional investors own 66.23% of the company’s stock.

About Rigel Pharmaceuticals

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).