Rigel Pharmaceuticals Q1 revenue misses estimates; sees profitable FY

Rigel Pharmaceuticals

05/05/2026 21:08

Overview

US biotech firm's Q1 2026 revenue missed analyst expectations, net product sales rose 26% yr/yr

Net income for Q1 fell to $8.7 mln from $11.4 mln a year earlier

Company reaffirmed 2026 revenue outlook and highlighted ongoing clinical progress

Outlook

Rigel sees 2026 total revenues of $275 to $290 mln

Company expects 2026 net product sales of $255 to $265 mln

Rigel anticipates positive net income for full yr 2026

Result Drivers

PRODUCT SALES GROWTH - Net product sales rose 26% yr/yr, with TAVALISSE and REZLIDHIA each up 31% and GAVRETO up 7%

CONTRACT REVENUE DECLINE - Collaboration revenue fell due to absence of prior-year $3 mln milestone payment

HIGHER COSTS - Increased R&D and commercial expenses drove up total costs and expenses yr/yr

Company press release: ID:nPn5FcKTwa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$58.80 mln
$62.39 mln (5 Analysts)
Q1 EPS
$0.44


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy"

Wall Street's median 12-month price target for Rigel Pharmaceuticals Inc is $50.00, about 69.3% above its May 4 closing price of $29.54

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)