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

H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating and $57.00 price target on Rigel Pharmaceuticals (NASDAQ: RIGL).

The analyst commented: "Rigel announced on October 8 that the first patient has been enrolled into the dose expansion phase of the Phase 1b R289 study. Recall, this open-label trial is evaluating the safety, tolerability, PK, and preliminary activity of the IRAK1/4 inhibitor, R289, in patients with relapsed or refractory (r/r) lower-risk myelodysplastic syndrome (MDS). The goal of this study is to determine the recommended Phase 2 dose (RP2D). Up to 40 patients will be randomized to receive 500 mg of R289 either once or twice daily. Once the RP2D is determined, Rigel plans to evaluate an exploratory cohort of erythropoiesis-stimulating agent (ESA) r/r, or ineligible, lower-risk MDS patients at that dose. Data from the dose escalation portion of the study are expected later this year. Recall also that during its 2Q25 financial results, Rigel mentioned plans to engage with the FDA this year to discuss a potential registrational pathway for R289. We believe that this meeting should provide valuable clarity on the next steps for the program and the design of subsequent trials leading toward an eventual NDA submission. Reiterate Buy rating and $57 PT."

For an analyst ratings summary and ratings history on Rigel Pharmaceuticals click here. For more ratings news on Rigel Pharmaceuticals click here.

Shares of Rigel Pharmaceuticals closed at $28.76 yesterday.

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