Madrigal Pharmaceuticals Gets Price Target Bumps By Analysts Following Successful NASH Study

Madrigal Pharmaceuticals Inc MDGL announced positive topline results from the pivotal Phase 3 MAESTRO-NASH biopsy trial of resmetirom.

Madrigal Pharmaceuticals shares jumped 268.1% to close at $234.83 on Monday and gained 4.4% to trade at $245.26 on Tuesday.

These analysts made changes to their price targets on Madrigal Pharmaceuticals after the company released Phase 3 trial results.

• SVB Leerink raised the price target on Madrigal Pharmaceuticals from $145 to $315. SVB Leerink analyst Mike Kratky maintained an Outperform rating on the stock.
• JMP Securities boosted the price target from $182 to $312. JMP Securities analyst Jonathan Wolleben maintained the stock with a Market Outperform.
• Goldman Sachs raised the price target on the stock from $178 to $375. Goldman Sachs analyst Andrea Tan maintained the stock with a Buy.
• Oppenheimer raised the price target on Madrigal Pharmaceuticals from $170 to $250. Oppenheimer analyst Jay Olson maintained the stock with an Outperform.
• HC Wainwright & Co. raised the price target from $170 to $225. HC Wainwright & Co. analyst Ed Arce maintained Madrigal Pharmaceuticals with a Buy.

Check out this: Intrepid Potash, Braskem And More: 4 Cheapest Stocks In The Materials Sector