Wall Street Analysts See a 71.97% Upside in Rigel (RIGL): Can the Stock Really Move This High?

Group 1 - Rigel Pharmaceuticals (RIGL) closed at $19.62, with a 0.3% gain over the past four weeks, and a mean price target of $33.74 suggests a 72% upside potential [1] - The mean estimate includes six short-term price targets with a standard deviation of $17.29, indicating variability among analysts; the lowest estimate is $20.45 (4.2% increase), while the highest is $57 (190.5% increase) [2] - Analysts show strong agreement in revising earnings estimates higher, with four estimates moving up and one down, resulting in a Zacks Consensus Estimate increase of 89.9% [12] Group 2 - The Zacks Rank for RIGL is 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, indicating potential upside [13] - Analysts' price targets may not be reliable indicators of stock price movements, but a tight clustering of targets suggests a high degree of agreement on price direction [9][10] - Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements, supporting the expectation of upside in RIGL [11]