Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Ionis Pharmaceuticals Inc (IONS) and Madrigal Pharmaceuticals Inc (MDGL).
Ionis Pharmaceuticals Inc (IONS)
Cowen & Co. analyst Ritu Baral maintained a Hold rating on Ionis Pharmaceuticals Inc today. The company’s shares closed yesterday at $67.36.
According to TipRanks.com, Baral is a top 100 analyst with an average return of 27.0% and a 51.7% success rate. Baral covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Allena Pharmaceuticals Inc.
Ionis Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $81.60, a 21.1% upside from current levels. In a report issued on April 26, Cantor Fitzgerald also downgraded the stock to Hold with a $68 price target.
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Madrigal Pharmaceuticals Inc (MDGL)
Oppenheimer analyst Jay Olson maintained a Buy rating on Madrigal Pharmaceuticals Inc today and set a price target of $200. The company’s shares closed yesterday at $103.61, close to its 52-week low of $91.56.
Olson observed:
“MDGL reported 1Q19 EPS of ($0.98), in line with our ($1.01) estimate, and a cash balance of $477.8M. We are encouraged by MDGL’s progress: 1) initiation of Ph3 trial of MGL-3196 (resmetirom) in NASH patients following positive Ph2 results (NASH resolution on biopsy with safety/tolerability); 2) additional Ph2 data analyses presented at EASL supporting idea that hepatic fat reduction is a critical component for NASH resolution; and 3) plans for a Ph3 dyslipidemia study to initiate in 2H19. We view recent Ph3 REGENERATE (ICPT) results as a positive for MDGL since MGL-3196 has a potentially complementary profile that focuses on NASH resolution via hepatic fat removal and could be complementary to OCA, which works downstream on fibrosis. We update our model with actuals. Details inside.”
According to TipRanks.com, Olson ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.9% and a 36.6% success rate. Olson covers the Healthcare sector, focusing on stocks such as Conatus Pharmaceuticals, Enanta Pharmaceuticals, and Axovant Gene Therapies.
Currently, the analyst consensus on Madrigal Pharmaceuticals Inc is a Moderate Buy with an average price target of $179.20, implying a 73.0% upside from current levels. In a report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $225 price target.
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