Madrigal Pharmaceuticals Inc (MDGL) Gets a Buy Rating from Oppenheimer


Oppenheimer analyst Jay Olson maintained a Buy rating on Madrigal Pharmaceuticals Inc (NASDAQ: MDGL) today and set a price target of $300. The company’s shares opened today at $203.20.

Olson said:

“Viking Therapeutics announced positive top line data from a Ph2 PoC trial in patients with non-alcoholic fatty liver disease (NAFLD) and elevated THR-ß agonist. We see the outcome as an additional positive read through to MGL-3196 underlining the efficacy of the class. More data will be available at AASLD. VK2809 reduced LDL-C by 20% or more compared with placebo and other lipids (atherogenic proteins ApoB & Lp(a)), similarly to MGL-3196. VK2809 also showed significant liver fat reductions (MRI-PDFF) of -56.6% for 10mg QOD and -59.7% for 10mg QD vs. -8.9% placebo and high percentage of patients experiencing ≥30% reduction in liver fat. No significant safety signal emerged with the compound (ALT, bilirubin, ALP) and the thyroid axis was not impacted.”

According to TipRanks.com, Olson is ranked 0 out of 5 stars with an average return of -2.8% and a 42.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Conatus Pharmaceuticals, and Enanta Pharmaceuticals.

Madrigal Pharmaceuticals Inc has an analyst consensus of Strong Buy, with a price target consensus of $331.80, representing a 63.3% upside. In a report issued on September 4, Citigroup also initiated coverage with a Buy rating on the stock with a $340 price target.

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The company has a one-year high of $325.98 and a one-year low of $20.16. Currently, Madrigal Pharmaceuticals Inc has an average volume of 189.1K.

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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.

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