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 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/12/2024 01:51:22 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/11/2024 01:29:06 AM
- Madrigal Pharmaceuticals, Inc. to Participate in the Morgan Stanley 22nd Annual Global Healthcare Conference • GlobeNewswire Inc. • 08/26/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 12:16:25 AM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/15/2024 11:52:55 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/07/2024 12:58:48 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/07/2024 11:06:32 AM
- Madrigal Pharmaceuticals Reports Second-Quarter 2024 Financial Results and Provides Corporate Updates • GlobeNewswire Inc. • 08/07/2024 11:00:00 AM
- Madrigal Pharmaceuticals Appoints Shannon Kelley as General Counsel • GlobeNewswire Inc. • 08/02/2024 11:00:21 AM
- Madrigal Pharmaceuticals to Release Second-Quarter 2024 Financial Results and Host Webcast on August 7, 2024 • GlobeNewswire Inc. • 07/24/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/19/2024 01:39:28 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/15/2024 01:44:36 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/14/2024 09:17:19 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/14/2024 08:37:27 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/13/2024 09:53:30 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/12/2024 09:03:54 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/11/2024 09:39:50 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/06/2024 10:48:25 PM
- Madrigal Pharmaceuticals Announces New Data from the Phase 3 MAESTRO-NASH Study of Rezdiffra™ (resmetirom) Presented at the EASL Congress • GlobeNewswire Inc. • 06/06/2024 12:00:00 PM
- Madrigal Pharmaceuticals to Participate in the Goldman Sachs 45th Annual Global Healthcare Conference • GlobeNewswire Inc. • 06/05/2024 12:00:00 PM
- Madrigal Pharmaceuticals to Present Multiple Rezdiffra™ (resmetirom) and Health Economics Outcomes Research Abstracts in NASH/MASH at the EASL Congress • GlobeNewswire Inc. • 05/29/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 01:36:56 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:36:01 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM