In a report released on December 5, Yigal Nochomovitz from Citi maintained a Buy rating on Rigel, with a price target of $69.00.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors related to Rigel’s promising developments in their pipeline. The company has shown encouraging results from their ongoing Phase 1b study of R289, a key pipeline asset, in lower-risk MDS patients. The data revealed that a significant portion of heavily pre-treated patients achieved durable red blood cell transfusion independence, which is a notable improvement in their quality of life.
Moreover, the management’s strategic focus on advancing the 500 mg BID dose into Phase 2 trials, along with the well-tolerated nature of R289, positions Rigel well against competitors like imetelstat. The potential for R289 to generate substantial peak risk-adjusted sales further supports the positive outlook. Additionally, the expected share price return of 41% underscores the high potential reward for investors, justifying the Buy rating despite the associated risks.
In another report released on December 3, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $52.00 price target.
RIGL’s price has also changed dramatically for the past six months – from $20.970 to $48.920, which is a 133.29% increase.