Rigel Pharmaceuticals (NASDAQ:RIGL) Receives “Buy” Rating from HC Wainwright

Posted by Stanley Muller on Jun 3rd, 2026

Rigel Pharmaceuticals (NASDAQ:RIGL – Get Free Report)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $57.00 price objective on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 90.89% from the stock’s previous close.

Several other research analysts also recently commented on RIGL. Citigroup reissued a “buy” rating and set a $81.00 target price (up from $69.00) on shares of Rigel Pharmaceuticals in a research note on Wednesday, May 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a report on Tuesday, April 21st. Wall Street Zen cut Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Zacks Research cut Rigel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.50.

Read Our Latest Stock Analysis on Rigel Pharmaceuticals

Rigel Pharmaceuticals Trading Down 2.1%

RIGL stock opened at $29.86 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.62 and a quick ratio of 2.48. The company has a fifty day moving average price of $28.97 and a two-hundred day moving average price of $35.23. Rigel Pharmaceuticals has a one year low of $18.14 and a one year high of $52.24. The stock has a market cap of $552.47 million, a price-to-earnings ratio of 1.60 and a beta of 1.21.

Rigel Pharmaceuticals (NASDAQ:RIGL – Get Free Report) last announced its earnings results on Tuesday, May 5th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.36). The business had revenue of $58.82 million during the quarter, compared to the consensus estimate of $62.40 million. Rigel Pharmaceuticals had a net margin of 121.50% and a return on equity of 47.99%. Equities analysts anticipate that Rigel Pharmaceuticals will post 3.76 EPS for the current year.

Insider Buying and Selling

In other news, Director Kamil Ali-Jackson sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $29.17, for a total transaction of $72,925.00. Following the transaction, the director directly owned 12,625 shares of the company’s stock, valued at approximately $368,271.25. The trade was a 16.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Rigel Pharmaceuticals by 96.9% in the 4th quarter. State Street Corp now owns 1,091,223 shares of the biotechnology company’s stock valued at $46,737,000 after acquiring an additional 536,905 shares during the period. Armistice Capital LLC grew its position in shares of Rigel Pharmaceuticals by 15.5% in the fourth quarter. Armistice Capital LLC now owns 836,000 shares of the biotechnology company’s stock valued at $35,806,000 after purchasing an additional 112,000 shares in the last quarter. Marshall Wace LLP grew its position in shares of Rigel Pharmaceuticals by 2.0% in the fourth quarter. Marshall Wace LLP now owns 613,600 shares of the biotechnology company’s stock valued at $26,280,000 after purchasing an additional 12,267 shares in the last quarter. LSV Asset Management grew its position in shares of Rigel Pharmaceuticals by 390.8% in the fourth quarter. LSV Asset Management now owns 544,282 shares of the biotechnology company’s stock valued at $23,312,000 after purchasing an additional 433,382 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Rigel Pharmaceuticals by 13.7% in the fourth quarter. Renaissance Technologies LLC now owns 539,009 shares of the biotechnology company’s stock valued at $23,086,000 after purchasing an additional 64,800 shares in the last quarter. 66.23% of the stock is owned by hedge funds and other institutional investors.

About Rigel Pharmaceuticals

(Get Free Report)

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).