Rigel Pharmaceuticals Inc. Common Stock (RIGL)

FairStock Score: 95/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Walking through Rigel as a Graham-style investor, I start with what is knowable. It sells TAVALISSE and REZLIDHIA for blood disorders and cancer, a small 172-employee biotech. The turnaround is real on paper: in fiscal 2023 it lost $25.1 million, in fiscal 2024 it earned $17.5 million, and in fiscal 2025 it reported $367.0 million of net income on $294.3 million of revenue. That last gap is a caution: profit far exceeding revenue suggests results driven by something other than ordinary operations, though I can only reason from filed figures. More recent quarters show the same tension. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $78.7 million and net income $17.3 million; in fiscal Q1 2026 revenue was $58.8 million and net income $8.7 million, so sequential improvement. But compared with fiscal Q2 2025, revenue fell from $101.7 million and net income from $59.6 million. The given revenue growth of -22.6% and profit growth of -71.0% confirm the direction. Financial health is helped by low leverage: debt-to-equity 0.09, Altman Z-score 3.35, Piotroski 6/9. Yet trailing free cash flow is only $9.0 million, a 1.0% FCF yield, so accounting earnings are not converting strongly into cash. At the 2026-10-13 close of $47.14, FairStock's P/E is 2.79 and its Graham Number is $93.10, a 49.37% margin of safety. That looks statistically cheap, but a Graham investor must ask whether the earnings are durable. No durable moat is evident from these numbers, and growth is negative. It is a speculative turnaround, not a sure bargain.

In plain English: Rigel Pharmaceuticals makes medicines for blood disorders and cancer. The company has swung from losses to profits, carries little debt, and its latest quarter improved from the prior quarter, but sales and profits are lower than a year ago and cash generation is small. At the recent price, the stock looks cheap based on reported earnings, but less cheap based on cash flow.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer