Is Rigel Pharmaceuticals, Inc. overvalued or undervalued?

As of 12 September 2025, Rigel Pharmaceuticals, Inc. has moved from an attractive to a very attractive valuation grade. The company is currently undervalued, as indicated by its P/E ratio of 10, significantly lower than the industry average, and a PEG ratio of 0.01, suggesting strong growth potential relative to its price. Additionally, the EV to EBITDA ratio stands at 7.92, further supporting the undervaluation thesis.
In comparison to its peers, Rigel Pharmaceuticals has a P/E of 7.49, while 2seventy Bio, Inc. shows a much higher P/E of 76.93, indicating that Rigel is trading at a substantial discount. Scilex Holding Co. also presents a negative P/E, highlighting the relative strength of Rigel's valuation metrics. Over the past year, Rigel has returned 157.59%, outperforming the S&P 500's 17.14%, which reinforces the attractiveness of its current valuation.