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Rigel Pharmaceuticals Inc (RIGL) Fair Value & Analysis

Healthcare · US · Market cap $661M · ISIN US7665597024

What is Rigel Pharmaceuticals Inc really worth?

RP Rigel Pharmaceuticals Inc logo Rigel Pharmaceuticals Inc RIGL · US
Price$46.18
Fair Value$119.47
Upside+158.7%
Quality67/100

A solid business, trading 61% below our fair value of $119.47.

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Strengths

Highly profitable · 121.5% net margin
Low debt · generates free cash flow
Ranks above peers (10/13)

Risks

!Mixed Growth (revenue 5y +22.1 %/yr)
!Moderate moat 60/100
!The models disagree: range $71.89 to $222.36
Evidence: High Range $71.89 – $222.36

Fair value as of: Aug 30, 2026

From 23 valuation models · updated 2 days ago

Share price +25.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case ($71.89). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide ($71.89 to $222.36). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

$50.96 $6.70 Fair Value $119.47 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

60‑month range $6.70 – $50.96 · fair‑value band $71.89 – $222.36 · the $46.18 price screens below the $119.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.

Full chart & analysis →

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Analysis

Rigel Pharmaceuticals Inc (RIGL) currently trades at $46.18, while our model-based Fair Value estimate is $119.47, implying the stock looks roughly 61.3% undervalued today. The Quality Score stands at 67/100 (solid quality), in the Healthcare sector. Bull case: the Growth Earnings group reads highest at a median of $921.62 per share, and 22 of the 23 models we run sit above the $46.18 price. Bear case: the Asset-Based group reads lowest at $14.18, and 1 of the 23 models stay below the price. Evidence for this calculation is high.

Trailing-twelve-month revenue stands at $300M. Revenue grew 10.3% year over year. It earns a return on equity of 174.1%. Net debt stands at $12.7M. Fundamentals as of Aug 30, 2026

Our scenario range runs from $71.89 (bear case) to $222.36 (bull case); at $46.18, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 12% below its 52-week high and 155% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −59% fair-value upside, at 159%, RIGL screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $12.90 per share, which is 10.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF $56.64 $82.23 $158.71 75
EPV $49.80 $56.46 $62.01 74
Growth DCF $53.12 $91.10 $150.79 74
All 23 models by family
DCF Models
FCF DCF $56.64 $82.23 $158.71 75
5Y Revenue Exit $43.56 $71.89 $130.94 67
5Y EBITDA Exit $68.96 $123.18 $229.55 69
5Y P/E Exit $244.84 $605.37 $1,107 64
10Y Revenue Exit $46.93 $94.46 $122.60 64
10Y EBITDA Exit $65.14 $144.34 $282.70 62
10Y P/E Exit $182.47 $489.74 $1,016 57
Earnings-Based
Graham-Dodd $134.89 $940.71 $1,320 61
Lynch FV $486.00 $694.29 $902.58 59
PEG = 1.0 $486.00 $694.29 $902.58 55
EPV $49.80 $56.46 $62.01 74
Multiples
P/E Multiple $327.31 $436.41 $545.51 63
P/S Multiple $41.75 $55.67 $69.59 58
P/B Multiple $71.41 $95.21 $119.02 55
EV/EBIT $87.44 $116.26 $145.08 66
EV/EBITDA $73.55 $97.74 $121.93 67
EV/Revenue $34.38 $48.69 $63.01 54
Asset-Based
NCAV (Graham) $10.58 $14.18 $21.16 54
Growth DCF
Growth DCF $53.12 $91.10 $150.79 74
Rev-Margin DCF $47.82 $82.10 $153.98 67
Economic Profit
Residual Income $106.59 $182.59 $4,048 61
ROIC Compounder $63.73 $93.15 $123.28 69
Growth Earnings
Growth-Adj P/E $645.14 $921.62 $1,198 65

Widest divergence: Growth Earnings ($921.62) versus Asset-Based ($14.18). Highest evidence: FCF DCF (75).

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Key figures & financial health

P/E ratio 2.4
P/S ratio 2.99 P/E × margin
EPS (TTM) $19.29 price ÷ EPS = P/E 2.4
Net margin 125% FY2025
Return on equity 174% TTM
Return on assets (EBIT) −5.4% avg 5y
More key figures
Profitability
Operating margin 20.2% TTM
Growth
Revenue (TTM) $300M TTM
Revenue growth (YoY) +10.3% 3y avg +34.8%
EPS growth (YoY) −30.2%
Balance sheet & cash flow
Free cash flow $75.7M FY2025
Net debt $12.7M FY2025 · ≈ 0.2 yrs of FCF

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 69 · Market factors (momentum, volatility) 55

Profitability 87
Margins and returns on capital today
Quality Growth 78
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 68
Distance to the 52-week high (market factor)
Net Issuance 34
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Rigel Pharmaceuticals, Inc., a biotechnology company, develops and provides therapies that enhance the lives of patients with hematologic disorders and cancer in the United States.

Full company description

Rigel Pharmaceuticals, Inc., a biotechnology company, develops and provides therapies that enhance the lives of patients with hematologic disorders and cancer in the United States. The company offers TAVALISSE, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; REZLIDHIA, a non-intensive monotherapy to treat adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer (NSCLC), as well as to treat adult and pediatric patients twelve years of age and older with advanced or metastatic RET fusion-positive thyroid cancer. It also develops R289, an oral interleukin receptor-associated kinases 1 and 4 (IRAK1/4) inhibitor, which is being advanced to Phase 1b study for the treatment of hematology-oncology, autoimmune, and inflammatory diseases, as well as to treat lower-risk myelodysplastic syndrome. The company has strategic development collaboration with The University of Texas MD Anderson Cancer Center (MDACC) for the development of olutasidenib in AML and other hematologic cancers with IDH1mutations; and the Collaborative Network for Neuro-Oncology Clinical Trial (CONNECT) to conduct a Phase 2 clinical trial to evaluate olutasidenib in combination with temozolomide in patients with high-grade glioma harboring an IDH1 mutation. Rigel Pharmaceuticals, Inc. was incorporated in 1996 and is headquartered in South San Francisco, California.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Rigel Pharmaceuticals Inc reported revenue of $294M in FY2025 versus $149M in FY2021, a compound +18.5%/yr. Reported net income was $367M in FY2025.

Growth Quality 77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$294M
Latest YoY
+64.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+34.8%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+22.1%
Avg. revenue growth/yr (26Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.4%
Value creation/yr We only publish this rate when it is defensible. Reason: no profitable base year
not computed
Revenue +18.5%/yr
FY21 $149M
FY22 $120M
FY23 $117M
FY24 $179M
FY25 $294M
Net income
FY21 −$17.9M
FY22 −$58.6M
FY23 −$25.1M
FY24 $17.5M
FY25 $367M

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Cite: Fair Value Calculator (2026). "Rigel Pharmaceuticals Inc Fair Value". https://www.fairvalue-calculator.com/stock/RIGL

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Biotechnology · 639 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 67 · Top 25%
Fair Value upside +159% · Top 25%
Return on equity (TTM) 174% · Top 25%
Return on assets 23% · Top 25%
Net margin (TTM) 122% · Top 25%
Operating margin (TTM) 20% · Top 25%
Revenue growth 10% · Above median
Debt / equity 0.06× · Higher than median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/E (TTM) 2.4× · Cheaper than 75% of peers
P/B 1.69× · Pricier than median
P/S (TTM) 2.21× · Cheaper than median
P/FCF 8.7× · Pricier than median
EV/EBITDA 5.1× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 0
FUTURE52 · sector 0
PAST100 · sector 0
HEALTH97 · sector 98
DIVIDEND0 · sector 26

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $547.55 $278.78 −49%
Regeneron Pharmaceuticals, Inc REGN $807.71 $594.40 −26%
argenx SE ARGX €877.60 €292.84 −67%
Samsung Biologics Co 207940 1,518,000 KRW 1,055,793 KRW −30%
CSL Limited CSL A$173.88 A$142.22 −18%
Alnylam Pharmaceuticals, Inc ALNY $228.61 $51.70 −77%
Royalty Pharma plc RPRX $60.58 $24.22 −60%
Celltrion, Inc 068270 190,700 KRW 74,519 KRW −61%
BeOne Medicines AG ONC $362.51 $111.35 −69%
BioNTech SE BNTX $111.40 $45.66 −59%

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Frequently asked questions

Is Rigel Pharmaceuticals Inc (RIGL) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of $119.47 versus a price of $46.18, about +159% upside (undervalued).
What is the fair value of RIGL?
Our model-based fair value for Rigel Pharmaceuticals Inc is $119.47 (as of Aug 30, 2026), built from audited fundamentals. The current price: $46.18.
What is the quality score of RIGL?
Rigel Pharmaceuticals Inc has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Rigel Pharmaceuticals Inc (RIGL)?
Rigel Pharmaceuticals Inc reported trailing-twelve-month revenue of about $300M (latest available figure, as of Aug 30, 2026).
What is the net profit margin of RIGL?
The net profit margin of Rigel Pharmaceuticals Inc is about 121.5%, meaning it keeps roughly 121.5% of revenue as net income. Based on the latest reported figures.
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