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

Rigel Pharmaceuticals (NASDAQ:RIGL) announced its quarterly earnings data on Thursday. The biotechnology company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.27), FiscalAI reports. Rigel Pharmaceuticals had a net margin of 116.30% and a return on equity of 22.95%. The business 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 Trading Down 10.9%

Shares of RIGL traded down $5.58 during mid-day trading on Thursday, reaching $45.71. The company had a trading volume of 550,631 shares, compared to its average volume of 200,810. Rigel Pharmaceuticals has a fifty-two week low of $24.95 and a fifty-two week high of $52.60. The firm has a fifty day simple moving average of $47.94 and a 200-day simple moving average of $37.46. The stock has a market cap of $845.63 million, a price-to-earnings ratio of 2.80 and a beta of 1.28.

Analysts Set New Price Targets

RIGL has been the subject of several research reports. Piper Sandler restated a “neutral” rating and set a $49.00 price objective (up from $40.00) on shares of Rigel Pharmaceuticals in a research report on Monday, August 17th. Citigroup restated a “buy” rating on shares of Rigel Pharmaceuticals in a report on Thursday, August 6th. Zacks Research cut shares of Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. HC Wainwright reiterated a “buy” rating and set a $85.00 price target on shares of Rigel Pharmaceuticals in a report on Monday, October 19th. Finally, Weiss Ratings upgraded shares of Rigel Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $71.67.

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.