In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Madrigal Pharmaceuticals Inc (MDGL), with a price target of $228. The company’s shares closed yesterday at $133.81.
According to TipRanks.com, Arce is a 4-star analyst with an average return of 9.3% and a 41.9% success rate. Arce covers the Healthcare sector, focusing on stocks such as Melinta Therapeutics Inc, Collegium Pharmaceutical, and Conatus Pharmaceuticals.
Currently, the analyst consensus on Madrigal Pharmaceuticals Inc is a Moderate Buy with an average price target of $175.
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Based on Madrigal Pharmaceuticals Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $8.51 million. In comparison, last year the company had a GAAP net loss of $8.45 million.
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Madrigal Pharmaceuticals, Inc. engages on the development and commercialization of innovative therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product, MGL-3196, is used for the treatment of non-alcoholic steatohepatitis and familial hypercholesterolemia.
