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.

A researcher in a lab coat monitoring a biotechnological experiment.

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.

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 RIGL 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.