H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Rigel (RIGL – Research Report) today and set a price target of $57.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors including the promising results from the ARROW trial for GAVRETO, which demonstrated strong efficacy and safety in treating RET fusion-positive NSCLC and other solid tumors. The trial results showed a high overall response rate and a significant median duration of response, indicating the drug’s potential to provide durable and meaningful outcomes for patients.
Moreover, the data from the trial highlighted GAVRETO’s encouraging anti-tumor activity across various RET fusion-positive solid tumors, suggesting its potential to capture market share beyond NSCLC. The absence of new safety signals further supports its manageable safety profile, adding to the confidence in its commercial performance and future market prospects.
Pantginis covers the Healthcare sector, focusing on stocks such as Cytokinetics, Actinium Pharmaceuticals, and Viking Therapeutics. According to TipRanks, Pantginis has an average return of -19.4% and a 26.94% success rate on recommended stocks.