Madrigal Pharmaceuticals Stock (MDGL): Why The Price Increased

By Amit Chowdhry ● Dec 31, 2021
  • The stock price of Madrigal Pharmaceuticals Inc (NASDAQ: MDGL) increased by 2.95% in the previous trading session. This is why it happened.

The stock price of Madrigal Pharmaceuticals Inc (NASDAQ: MDGL) increased by 2.95% in the previous trading session. Investors are responding positively to a couple of bullish research reports.

H.C. Wainwright analyst Ed Arce issued Madrigal Pharmaceuticals a “Buy” rating and a $170 price target. And Piper Sandler analyst Yasmeen Rahimi assigned Madrigal Pharmaceuticals an “Overweight” rating and a $203 price target.

Rahimi noted Madrigal Pharmaceuticals announced that its topline data from the MAESTRO-NAFLD trial would be delayed to January due to staffing issues at a vendor. But Rahimi sees no big deal in the delay and advises investors not to freak out. Company management advised her that blinded data has been delivered to the second vendor for analysis so Rahimi is confident there were no setbacks in clinical execution and the only limiting factor is the vendor timeline.

Plus Rahimi believes Madrigal presenting one lump sum dataset including MRI-PDFF, lipids, safety, and NIT will be well-received by Wall Street.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.