Madrigal Pharmaceuticals (MDGL) has received a new Buy rating, initiated by Truist Financial analyst, Srikripa Devarakonda.
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Srikripa Devarakonda’s rating is based on several compelling factors that highlight Madrigal Pharmaceuticals’ potential for growth. The company’s lead drug, Rezdiffra, is the first approved treatment for MASH, a market with significant unmet needs and a large patient population in the United States. The early success of Rezdiffra’s launch indicates strong demand, suggesting that the market potential is not fully appreciated at its current valuation.
Additionally, feedback from key opinion leaders suggests high interest in Rezdiffra, supporting optimistic peak sales projections. The drug’s potential in the MASH F4 subtype, where it could achieve first-to-market status, further enhances its growth prospects. Moreover, the extended market exclusivity of Rezdiffra and the potential for Madrigal to become a target for mergers and acquisitions add to the stock’s attractiveness. These factors combined justify the Buy rating and the price target set by Devarakonda.
In another report released on October 10, Oppenheimer also maintained a Buy rating on the stock with a $590.00 price target.
Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is neutral on the stock.