Analyst Reiterates Buy on Rigel as VEPPANU Acquisition Expands Portfolio; Price Target Maintained at $57
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Analyst Joseph Pantginis from H.C. Wainwright has reiterated a Buy rating on Rigel Pharmaceuticals, maintaining a price target of $57. The rating is based on Rigel's acquisition of VEPPANU, an FDA-approved therapy for advanced breast cancer, which expands its portfolio to four approved products. Pantginis believes this asset will enhance physician adoption and patient retention. He views the focused ESR1-mutated market as impactful for Rigel, especially with management's plans to leverage existing infrastructure. Citi also maintains a Buy rating with a $69 price target.
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