Oppenheimer Gives a Buy Rating to Madrigal Pharmaceuticals (MDGL)

In a report released today, Jay Olson from Oppenheimer assigned a Buy rating to Madrigal Pharmaceuticals (MDGL), with a price target of $200.00. The company’s shares closed last Friday at $90.85.

According to TipRanks.com, Olson ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -8.9% and a 38.0% success rate. Olson covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals, Enanta Pharmaceuticals, and Millendo Therapeutics.

Madrigal Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $159.50, implying an 80.2% upside from current levels. In a report issued on May 7, Canaccord Genuity also maintained a Buy rating on the stock with a $198.00 price target.

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Based on Madrigal Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $27.74 million. In comparison, last year the company had a GAAP net loss of $11.48 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. The company was founded by Rebecca Taub and Edward Chiang on September 2011 and is headquartered in Fort Washington, PA.

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