H.C. Wainwright Reiterates a Buy Rating on Rigel Pharmaceuticals (RIGL), Sets a $57 PT

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) is one of the top most undervalued biotech stocks to buy now. On August 6, analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) with a $57.00 price target.

The analyst based the positive rating on the company’s promising growth outlook and solid financial performance, stating that Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) reported an EPS of $3.28 in fiscal Q2 2025, exceeding both the firm’s estimate of $2.52 and the consensus of $1.40.

The company also surpassed expectations by reporting $101.7 million in total revenue in the quarter, attributed primarily to higher-than-expected revenue from Tavalisse. The analyst reasoned that Tavalisse benefited from enhanced access and higher patient starts after changes in Medicare Part D coverage.

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) is a clinical-stage biotechnology company that discovers and develops targeted, novel drugs in oncology, immunology, and immune oncology. Its product portfolio includes Tavalisse, Fostamatinib, and R835.

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Disclosure: None. This article is originally published at Insider Monkey.