Rigel Pharmaceuticals (NASDAQ:RIGL) Stock Dropped to “Strong Sell” by Zacks Research

Posted by George Bondi on Oct 16th, 2026

Zacks Research lowered shares of Rigel Pharmaceuticals (NASDAQ:RIGL – Free Report) from a hold rating to a strong sell rating in a research note published on Wednesday morning,Zacks reports.

A number of other research analysts have also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $85.00 price objective (up from $57.00) on shares of Rigel Pharmaceuticals in a research note on Friday, August 14th. Citigroup restated a “buy” rating on shares of Rigel Pharmaceuticals in a research report on Thursday, August 6th. Weiss Ratings upgraded Rigel Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $49.00 target price (up from $40.00) on shares of Rigel Pharmaceuticals in a report on Monday, August 17th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $59.00.

View Our Latest Stock Analysis on Rigel Pharmaceuticals

Rigel Pharmaceuticals Stock Up 0.9%

RIGL stock opened at $47.25 on Wednesday. Rigel Pharmaceuticals has a 12 month low of $24.95 and a 12 month high of $52.24. The firm has a market cap of $874.12 million, a P/E ratio of 2.90 and a beta of 1.19. The company’s 50-day moving average price is $46.40 and its two-hundred day moving average price is $37.92.

Rigel Pharmaceuticals (NASDAQ:RIGL – Get Free Report) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.09 by $0.79. Rigel Pharmaceuticals had a net margin of 116.30% and a return on equity of 22.95%. The company had revenue of $78.70 million during the quarter, compared to analysts’ expectations of $55.27 million. Equities analysts predict that Rigel Pharmaceuticals will post 2.98 EPS for the current year.

Institutional Investors Weigh In On Rigel Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Rigel Pharmaceuticals during the second quarter valued at $75,886,000. Assenagon Asset Management S.A. acquired a new position in shares of Rigel Pharmaceuticals during the third quarter worth $25,793,000. Dimensional Fund Advisors LP grew its stake in shares of Rigel Pharmaceuticals by 37.1% in the first quarter. Dimensional Fund Advisors LP now owns 379,541 shares of the biotechnology company’s stock worth $10,259,000 after purchasing an additional 102,729 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Rigel Pharmaceuticals in the second quarter worth $4,832,000. Finally, Globeflex Capital L P bought a new stake in shares of Rigel Pharmaceuticals in the second quarter worth $4,408,000. 66.23% of the stock is owned by institutional investors.

Rigel Pharmaceuticals Company Profile

(Get Free Report)

Rigel Pharmaceuticals, Inc is a biotechnology company that discovers, develops and commercializes small-molecule medicines for immune and hematologic diseases. Founded in 1996 and headquartered in South San Francisco, California, the company focuses on therapies designed to address significant unmet medical needs in areas including autoimmune disorders, inflammatory conditions and cancer.

Rigel’s marketed products include TAVALISSE (fostamatinib), an oral spleen tyrosine kinase inhibitor approved in the United States to treat adults with chronic immune thrombocytopenia who have had an insufficient response to previous treatment.