Rigel Pharmaceuticals (NASDAQ:RIGL) Stock Price Target Raised at Cantor Fitzgerald

Rigel Pharmaceuticals (NASDAQ:RIGL) had its price objective lifted by Cantor Fitzgerald from $43.00 to $47.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on the stock. Zacks Research lowered shares of Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. HC Wainwright restated a “buy” rating and set a $85.00 target price on shares of Rigel Pharmaceuticals in a research report on Monday, October 19th. Weiss Ratings raised shares of Rigel Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Citigroup reiterated a “buy” rating on shares of Rigel Pharmaceuticals in a report on Thursday, August 6th. Finally, Piper Sandler reissued a “neutral” rating and set a $49.00 price target (up from $40.00) on shares of Rigel Pharmaceuticals in a research note on Monday, August 17th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $65.50.

Rigel Pharmaceuticals Stock Down 13.3%

Shares of RIGL traded down $6.06 during trading hours on Friday, reaching $39.65. 759,087 shares of the company traded hands, compared to its average volume of 193,789. The stock has a market capitalization of $733.52 million, a PE ratio of 2.56 and a beta of 1.28. The stock has a fifty day simple moving average of $47.79 and a 200 day simple moving average of $37.47. Rigel Pharmaceuticals has a fifty-two week low of $24.95 and a fifty-two week high of $52.60.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Thursday, November 5th. The biotechnology company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.27). Rigel Pharmaceuticals had a net margin of 116.30% and a return on equity of 22.95%. The firm had revenue of $80.89 million during the quarter, compared to analyst estimates of $80.10 million. Research analysts predict that Rigel Pharmaceuticals will post 2.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Rigel Pharmaceuticals

A number of institutional investors have recently bought and sold shares of RIGL. Jupiter Topco LLC purchased a new position in Rigel Pharmaceuticals during the second quarter worth approximately $3,450,000. Empowered Funds LLC acquired a new position in shares of Rigel Pharmaceuticals in the 1st quarter valued at $2,234,000. Bank of America Corp DE purchased a new stake in shares of Rigel Pharmaceuticals during the 2nd quarter valued at $4,832,000. Bank of New York Mellon Corp purchased a new stake in shares of Rigel Pharmaceuticals during the 2nd quarter valued at $4,233,000. Finally, Man Group plc purchased a new stake in shares of Rigel Pharmaceuticals during the 2nd quarter valued at $814,000. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Rigel Pharmaceuticals

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

• Positive Sentiment: Third-quarter revenue was $80.9 million, just above the $80.1 million expected, and Rigel reported $13.2 million in net income. Newly launched VEPPANU generated $6.6 million in initial sales after becoming commercially available in mid-August. Rigel Reports Third Quarter 2026 Financial Results
• Neutral Sentiment: Cantor Fitzgerald lifted its price target to $47 from $43, while maintaining a neutral rating. Cantor Fitzgerald price target
• Negative Sentiment: Adjusted earnings were $0.65 per share, missing analyst estimates of roughly $0.87–$0.92 and falling from $1.46 a year earlier. The earnings shortfall is the clearest near-term negative for the stock. Rigel Pharmaceuticals misses Q3 earnings estimates

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.