In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Rigel (RIGL – Research Report), with a price target of $57.00.
Joseph Pantginis has given his Buy rating due to a combination of factors that highlight Rigel’s promising financial performance and strategic growth initiatives. The company reported strong financial results for 2024, with earnings per share surpassing both the analyst’s and consensus estimates. This positive financial outcome is supported by robust product revenues from key therapies such as Tavalisse, Rezlidhia, and Gavreto, indicating a solid market presence.
Moreover, Rigel’s strategic focus on expanding its commercial portfolio and exploring international partnerships is expected to drive sustained growth. The advancement of their clinical pipeline, including the IRAK1/4 inhibitor R289 and the strategic alliance with MD Anderson, further underscores the company’s commitment to innovation and market expansion. These efforts, along with recent regulatory approvals and ongoing clinical trials, position Rigel well for future profitability and market success.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RIGL in relation to earlier this year.
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