H.C. Wainwright Reiterates a Buy Rating on Rigel Pharmaceuticals (RIGL)

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) is one of the 13 Cheap Healthcare Stocks with Huge Upside Potential. On June 3, H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) and set a price target of $57.00. The optimistic rating was based on the company’s prospects, including promising results from the ARROW trial for GAVRETO.

A researcher in a lab coat monitoring a biotechnological experiment.

The trial demonstrated safety and strong efficacy for the treatment of RET fusion-positive NSCLC and other solid tumors. It also exhibited a significant median duration of response and a high overall response rate, pointing towards the drug’s meaningful and durable outcomes.

The analyst further reasoned that the trial data shows GAVRETO’s optimistic anti-tumor activity across a number of RET fusion-positive solid tumors, which shows its market potential and paints an optimistic picture for Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL).

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.

While we acknowledge the potential of RIGL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than XXXX and that has 100x upside potential, check out our report about this cheapest AI stock.

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