Rigel (RIGL)
NASDAQ:RIGL
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Rigel
(NASDAQ:RIGL)
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Rating:73Outperform
Price Target:
$29.00
▲(12.36% Upside)
Action:ReiteratedDate:03/05/26
The score is driven primarily by a strong fundamental turnaround (profitability, revenue growth, healthier balance sheet, and improved cash generation) and very attractive headline valuation (low P/E). These positives are partially offset by weak technicals (price below key moving averages and negative MACD) and some sustainability risk from unusually high 2025 profitability versus cash flow.
Positive Factors
Revenue growth and commercial momentum
Sustained, broad-based sales growth and an upward guide indicate durable commercial traction. Strong net product sales across core drugs show expanding market adoption and demand, which supports predictable revenue expansion, margin leverage from high gross margins, and reinvestment in sales and pipeline over multiple years.
Negative Factors
Earnings quality and volatility
An outsized 2025 net income relative to cash flows and historical margins raises quality-of-earnings concerns. If results include nonrecurring items or timing effects, forward profitability and free cash flow may be less predictable, complicating multi-quarter forecasting and raising downside risk to sustained margin expectations.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and commercial momentum
Sustained, broad-based sales growth and an upward guide indicate durable commercial traction. Strong net product sales across core drugs show expanding market adoption and demand, which supports predictable revenue expansion, margin leverage from high gross margins, and reinvestment in sales and pipeline over multiple years.
Read all positive factors
Rigel (RIGL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$476.79M
Dividend YieldN/A
Average Volume (3M)372.76K
Price to Earnings (P/E)2.1
Beta (1Y)2.02
Revenue Growth79.13%
EPS Growth2798.12%
CountryUS
Employees162
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)13.54
Shares Outstanding18,473,130
10 Day Avg. Volume302,293
30 Day Avg. Volume372,761
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.97
Price to Sales (P/S)2.62
P/FCF Ratio10.18
Enterprise Value/Market Cap1.03
Enterprise Value/Revenue1.66
Enterprise Value/Gross Profit1.78
Enterprise Value/Ebitda3.83
Forecast
1Y Price Target
$52.00Price Target Upside101.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)3.97
Revenue Forecast (FY)$284.13M
Rigel Business Overview & Revenue Model
Company Description
Rigel Pharmaceuticals, Inc., a biotechnology company, discovers and develops small molecule drugs to treat hematologic disorders, cancer, and rare immune diseases. The company offers Tavalisse, an oral spleen tyrosine kinase inhibitor for the trea...
How the Company Makes Money
Rigel makes money primarily from (1) net product sales of TAVALISSE in the United States, where it commercializes the drug and recognizes revenue from sales to wholesalers/specialty distributors and other customers, net of typical biopharma deduct...
Rigel Earnings Call Summary
Earnings Call Date:Nov 04, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Positive
The earnings call highlighted Rigel Pharmaceuticals' strong financial performance, significant increases in revenue and net product sales, and advancements in their drug development pipeline. Despite the termination of a specific CNS program by Eli Lilly, the overall tone was positive, focusing on growth and expansion opportunities.Positive Updates
Record Revenue and Net Product Sales
Total revenue of $69.5 million for Q3 2025, with record net product sales of $64.1 million, a 65% year-over-year increase. Raised 2025 revenue guidance to $285 million to $290 million, exceeding previous expectations.
Negative Updates
Termination of CNS Disease Program
Eli Lilly decided to terminate the CNS disease program, which will become effective after 60 days.
Read all updates
Q3-2025 Updates
Positive
Negative
Record Revenue and Net Product Sales
Total revenue of $69.5 million for Q3 2025, with record net product sales of $64.1 million, a 65% year-over-year increase. Raised 2025 revenue guidance to $285 million to $290 million, exceeding previous expectations.
Read all positive updates
Company Guidance
During Rigel Pharmaceuticals' third-quarter 2025 financial conference call, the company provided updated guidance for the year, reflecting a strong commercial performance and strategic advancements in their development pipeline. Total revenue for the third quarter reached $69.5 million, driven by record net product sales of $64.1 million, marking a 65% year-over-year increase. Rigel's updated 2025 revenue guidance now projects total revenue between $285 million and $290 million, up from a previous range of $270 million to $280 million, with net product sales expected to be between $225 million and $230 million. This represents an anticipated growth rate of 55% to 59% compared to 2024. The company also reported a net income of $27.9 million for the quarter and increased their cash balance to $137.1 million. Additionally, Rigel highlighted its progress in the ongoing Phase Ib study of R289 and strategic collaborations for olutasidenib, contributing to a promising outlook for sustained growth and development in hematology and oncology.Rigel Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 294.28M | 179.28M | 116.88M | 120.24M | 149.24M |
| Gross Profit | 274.66M | 160.63M | 109.77M | 118.49M | 148.15M |
| EBITDA | 127.88M | 28.51M | -16.98M | -53.87M | -11.29M |
| Net Income | 367.02M | 17.48M | -25.09M | -58.57M | -17.91M |
Balance Sheet | |||||
| Total Assets | 513.59M | 163.98M | 117.22M | 134.28M | 167.33M |
| Cash, Cash Equivalents and Short-Term Investments | 154.96M | 77.32M | 56.93M | 58.21M | 124.97M |
| Total Debt | 53.30M | 59.97M | 60.58M | 41.55M | 30.57M |
| Total Liabilities | 122.11M | 160.69M | 145.87M | 147.90M | 136.95M |
| Stockholders Equity | 391.48M | 3.29M | -28.64M | -13.62M | 30.37M |
Cash Flow | |||||
| Free Cash Flow | 75.66M | 31.07M | -20.74M | -74.21M | 5.25M |
| Operating Cash Flow | 75.66M | 31.47M | -5.74M | -73.76M | 5.88M |
| Investing Cash Flow | -92.36M | 4.13M | -4.30M | 72.78M | -80.04M |
| Financing Cash Flow | 601.00K | -11.64M | 18.37M | 6.55M | 62.67M |
Rigel Technical Analysis
Negative
25.81
Price Trends
32.43
Negative
37.41
Negative
32.89
Negative
Market Momentum
-2.11
Negative
30.18
Neutral
53.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RIGL, the sentiment is Negative. The current price of 25.81 is below the 20-day moving average (MA) of 27.68, below the 50-day MA of 32.43, and below the 200-day MA of 32.89, indicating a bearish trend. The MACD of -2.11 indicates Negative momentum. The RSI at 30.18 is Neutral, neither overbought nor oversold. The STOCH value of 53.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RIGL.
Rigel Risk Analysis
Rigel disclosed 59 risk factors in its most recent earnings report. Rigel reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Rigel Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $476.79M | 2.10 | 240.83% | ― | 79.13% | 2798.12% | |
60 Neutral | $699.07M | -8.29 | -41.94% | ― | 1255.21% | 74.58% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $442.69M | -4.89 | -1849.88% | ― | 33.79% | -26.37% | |
46 Neutral | $298.98M | -2.24 | -33.20% | ― | -23.43% | -9.84% | |
45 Neutral | $400.52M | -3.83 | -103.12% | ― | 91.30% | 30.69% |
* Healthcare Sector Average
RIGL
Rigel
25.81
7.82
43.47%
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Rigel Corporate Events
Executive/Board Changes
Rigel Pharmaceuticals Appoints Michael P. Miller to Board
Neutral
Feb 3, 2026
On February 1, 2026, Rigel Pharmaceuticals appointed Michael P. Miller to its board of directors, where he will serve in the director class whose term runs until the 2027 annual stockholders’ meeting and take a seat on the company’s Co...
Business Operations and StrategyFinancial Disclosures
Rigel Announces Strong Preliminary 2025 Results and Outlook
Positive
Jan 12, 2026
On January 12, 2026, Rigel reported strong preliminary 2025 results, with fourth-quarter total revenue expected at $69.8 million, up from $57.6 million a year earlier, and full-year revenue projected at $294.3 million versus $179.3 million in 2024...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.