Tuesday, August 07, 2018 5:50:06 AM
Madrigal Pharmaceuticals Inc (NASDAQ: MDGL) is positioned to dominate a “blockbuster market,” according to Goldman Sachs. But while the bank believes in the biotech’s longer-term prospects, it sees no near-term catalysts for Madrigal’s stock.
The Rating
Analyst Salveen Richter downgraded Madrigal to Neutral but maintained his $314 price target.
The Thesis
Richter forecasts limited upside to his fundamental discounted cash flow value and anticipates few value-driving catalysts in the near future. However, he maintains high expectations for MGL-3196.
“We continue to view MGL-3196, a once-daily oral thyroid hormone receptor (THR)-beta agonist, as a best-in-class and industry drug for NASH driven by the positive liver and cardiometabolic profile (per the Phase 2 36-week study) and corroborating KOL feedback,” Richter wrote in a note. “Specifically, based on the efficacy/safety profile seen to date with MDGL’s MGL-3196 - our KOLs suggest this would be a first choice as monotherapy.”
He identifies a “clear development path” for MGL-3196 and anticipates New Drug Applications for two indications with global peak sales of $6 billion.
Additionally, given management’s interest in business development activities to commercialize the candidate, Madrigal could eventually drive value with a merger.
“Post the highly impressive MGL-3196 Ph2 36-week liver biopsy data, MDGL is positioned as a leading next-generation NASH player with a best-in-class strategic asset in a blockbuster market where there are currently no approved therapies,” Richter wrote.
https://finance.yahoo.com/news/goldman-sachs-cuts-madrigal-pharma-190549481.html
..And so we sit idle for a minute, drifting, drifting...Unless the decide to accept a buyout offer.
GO MDGL
"PEACE"
Loading so more on the cheap.
Recent MDGL News
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:36:01 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 05/07/2024 08:34:35 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 05/07/2024 08:29:19 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/07/2024 01:00:37 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 11:06:34 AM
- Madrigal Pharmaceuticals Reports First-Quarter 2024 Financial Results and Provides Corporate Updates • GlobeNewswire Inc. • 05/07/2024 11:00:00 AM
- Madrigal Statement on the Passing of Dr. Stephen Harrison • GlobeNewswire Inc. • 04/24/2024 08:00:00 PM
- Madrigal Pharmaceuticals to Release First-Quarter 2024 Financial Results and Host Webcast on May 7, 2024 • GlobeNewswire Inc. • 04/23/2024 12:00:00 PM
- Madrigal Pharmaceuticals Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4) • GlobeNewswire Inc. • 04/16/2024 08:05:00 PM
- Madrigal Pharmaceuticals Announces U.S. Availability of Rezdiffra™ (resmetirom) for the Treatment of Patients with Noncirrhotic NASH with Moderate to Advanced Liver Fibrosis • GlobeNewswire Inc. • 04/09/2024 12:00:00 PM
- Madrigal Pharmaceuticals Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4) • GlobeNewswire Inc. • 04/03/2024 08:05:00 PM
- Madrigal Pharmaceuticals Announces Pricing of Upsized $600 Million Public Offering • GlobeNewswire Inc. • 03/19/2024 03:58:56 AM
- Madrigal Pharmaceuticals Announces Proposed Public Offering • GlobeNewswire Inc. • 03/18/2024 08:04:05 PM
- Adobe Stock Drops Following Below-Estimate Projections, Cardlytics Surges with Unexpected Profit, and More News • IH Market News • 03/15/2024 11:30:55 AM
- Madrigal Pharmaceuticals Announces FDA Approval of Rezdiffra™ (resmetirom) for the Treatment of Patients with Noncirrhotic Nonalcoholic Steatohepatitis (NASH) with Moderate to Advanced Liver Fibrosis • GlobeNewswire Inc. • 03/14/2024 08:15:00 PM
- Madrigal Pharmaceuticals Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4) • GlobeNewswire Inc. • 03/06/2024 09:05:00 PM
- Madrigal Pharmaceuticals Announces EMA Validation of its Marketing Authorization Application for Resmetirom for the Treatment of NASH/MASH with Liver Fibrosis • GlobeNewswire Inc. • 03/05/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/28/2024 12:10:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/28/2024 12:01:31 PM
- Madrigal Pharmaceuticals Appoints Mardi C. Dier as Chief Financial Officer • GlobeNewswire Inc. • 02/28/2024 12:01:00 PM
- Madrigal Pharmaceuticals Provides Corporate Updates and Reports Fourth Quarter and Full Year 2023 Financial Results • GlobeNewswire Inc. • 02/28/2024 12:00:00 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/28/2024 11:32:35 AM
- Madrigal Pharmaceuticals Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4) • GlobeNewswire Inc. • 02/21/2024 01:00:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 07:50:08 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 02:21:37 PM
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