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 $225. The company’s shares closed yesterday at $103.17, close to its 52-week low of $89.83.
Arce said:
“We are confident that the MAESTRO-NASH trial is well-managed: it is conducted by PRA Health Sciences (private), a top CRO that was awarded the 2019 CRO a top drawer group of clinical site investigators including principal investigator Dr. Antonio, TX. Importantly, MAESTRO-NASH’s 52-week treatment period was selected in order to optimize patient compliance and the repeat biopsy rate, as both drop off considerably in trials that last more than one year.”
According to TipRanks.com, Arce is a 4-star analyst with an average return of 8.8% and a 39.8% success rate. Arce covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics Ltd, Melinta Therapeutics Inc, and Collegium Pharmaceutical.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Madrigal Pharmaceuticals Inc with a $174.20 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $310.42 and a one-year low of $89.83. Currently, Madrigal Pharmaceuticals Inc has an average volume of 182.2K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
