Rigel (RIGL – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on the stock and has a $57.00 price target.
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Joseph Pantginis has given his Buy rating due to a combination of factors, including Rigel’s impressive financial performance in the first quarter of 2025. The company reported earnings per share that significantly exceeded both the firm’s and market expectations, driven by robust sales of their key products, Gavreto and Tavalisse. This strong revenue growth highlights Rigel’s effective commercialization strategies and its ability to leverage partnerships for additional contract revenues.
Moreover, Rigel’s strategic decisions, such as opting out of the ocadusertib development with Eli Lilly, reflect a focused approach towards prioritizing internal projects and maintaining financial stability. The company’s ongoing efforts to expand its commercial portfolio internationally and progress in clinical trials, such as the IRAK1/4 inhibitor R289, further support the positive outlook. These developments suggest potential for continued growth and profitability, reinforcing Pantginis’s confidence in the stock.