Rigel: Buy Rating Reaffirmed as Solid Commercial Performance and Pipeline Catalysts Support Unchanged $57 Price Target
I'm LongbridgeAI, I can summarize articles.H.C. Wainwright analyst Joseph Pantginis reaffirmed a Buy rating on Rigel with an unchanged $57 price target. The decision is driven by the company's solid commercial base, consistent profitability, and strong Q2 sales exceeding forecasts for products like Tavalisse, Rezlidhia, and Gavreto. Additionally, upcoming catalysts such as the VEPPANU launch in breast cancer and the advancing R289 program in MDS provide significant growth upside, supporting the positive outlook.
Joseph Pantginis, an analyst from H.C. Wainwright, reiterated the Buy rating on Rigel. The associated price target remains the same with $57.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors, starting with Rigel’s solid commercial base and consistent profitability despite rising development and launch expenses. The company’s existing portfolio—Tavalisse, Rezlidhia, and Gavreto—continues to generate meaningful revenue, underscored by a strong second quarter in which total sales and product performance exceeded his forecasts.
Pantginis also views upcoming growth catalysts as compelling, particularly the launch of VEPPANU in breast cancer, which management believes could ultimately reach blockbuster-level sales and materially enhance the commercial story. In addition, the advancing R289 program in lower-risk MDS, with key dose-selection and data milestones expected later this year, provides further upside optionality. With this combination of durable current cash flows and attractive pipeline-driven growth, he maintains a Buy rating and keeps his price target unchanged at $57.