Rigel Pharmaceuticals

RIGL · NASDAQ

$48.11+$1.39 (+2.98%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $46.72

RIGL analyst rating

BuyConsensus of 5 analysts over the last 12 months. 60% rate it a buy.

Strong buy0
Buy3
Hold2
Underperform0
Sell0

12-month price target · 7 analysts

Average $64.26 (+33.6% upside)

Low: $43.43
Now: $48.11
High: $89.25

Upgrades and downgrades

The latest rating actions, newest first

RIGL analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
HC Wainwright & Co.	Oct 19, 2026	Maintains	Buy	$85.00	40%
Piper Sandler	Aug 17, 2026	Maintains	Neutral	$40.00 → $49.00	55%
HC Wainwright & Co.	Aug 14, 2026	Maintains	Buy	$57.00 → $85.00	40%
HC Wainwright & Co.	Jun 2, 2026	Maintains	Buy	$57.00	40%
HC Wainwright & Co.	May 27, 2026	Maintains	Buy	$57.00	40%
HC Wainwright & Co.	May 22, 2026	Maintains	Buy	$57.00	40%
Citigroup	May 13, 2026	Maintains	Buy	$69.00 → $81.00	42%
Citigroup	May 7, 2026	Maintains	Buy	$71.00 → $69.00	42%
Jefferies	Nov 5, 2025	Upgrade	Hold → Buy	$23.00 → $42.00	44%
Cantor Fitzgerald	Nov 5, 2025	Maintains	Neutral	$32.00 → $38.00	41%

The case for and against

Updated Oct 16, 2026

Bull case

Rigel Pharmaceuticals is supported by a portfolio that is increasingly anchored by four approved products, with Tavalisse and Rezlidhia expected to continue growing, Gavreto remaining relatively stable, and Veppanu adding a new commercial engine. The strongest fundamental argument is that Veppanu opens a focused U.S. opportunity in ER+/HER2- ESR1-mutated metastatic breast cancer, where Phase 3 VERITAC-2 showed median PFS of 5.0 months versus 2.1 months for fulvestrant and management sees room for broader testing adoption from the current 60% rate. Meanwhile, durable clinical data for Rezlidhia and Gavreto, including 48-month OS of 74% and EFS of 69% in long-term responders and pralsetinib’s 18.7-month median PFS versus 9.0 months SOC, strengthen confidence in recurring commercial traction and upside.

Bear case

Rigel Pharmaceuticals is facing a negative fundamental setup because its valuation depends heavily on a few commercial assets, especially Tavalisse, Rezlidhia, and Gavreto, while upside from pipeline programs is not yet included and could be delayed or unproven. The company also faces meaningful execution risk from weaker-than-expected sales, launch and reimbursement uncertainty for VEPPANU, and the possibility that R289 trials fail or produce inconclusive data, which would reduce future growth optionality. In addition, the one-for-10 reverse split on June 27, 2024, and concerns about share count dilution and funding needs underscore financial fragility, while safety issues around pralsetinib, including higher grade ≥3 infections and 8 fatal infection events, add further pressure.

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