Oppenheimer analyst Jay Olson raised the firm’s price target on Madrigal Pharmaceuticals to $250 from $170 and keeps an Outperform rating on the shares after the company announced positive topline results for Phase 3 MAESTRO-NASH trial of resmetirom in NASH, which he believes represents a transformational moment in the history of NASH drug development as a long-awaited victory for patients, while driving substantial stock outperformance. The analyst also raised his estimated probability of success for resmetirom to 80%.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on MDGL:
- Meet the Biotech Stock That Jumped Over 260% in One Day
- Madrigal Pharmaceuticals price target raised to $312 from $182 at JMP Securities
- Raymond James upgrades Madrigal to Market Perform after NASH data
- Madrigal Pharmaceuticals upgraded to Market Perform at Raymond James
- Madrigal Pharmaceuticals price target raised to $194 from $75 at B. Riley