Citi analyst David Lebowitz has maintained their bullish stance on MDGL stock, giving a Buy rating yesterday.
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David Lebowitz has given his Buy rating due to a combination of factors, including Madrigal Pharmaceuticals’ strong market position with its drug Rezdiffra, which has consistently exceeded market expectations since its launch. Despite the recent FDA approval of Novo Nordisk’s Wegovy for the treatment of metabolic-associated steatohepatitis (MASH), Madrigal’s management remains optimistic that this will increase market size and disease awareness, potentially benefiting their product as well.
While there are concerns about Rezdiffra losing market share to Wegovy, the anticipated market expansion and Madrigal’s established presence provide a positive outlook. The expected share price return of 36.5% further supports the Buy rating, indicating significant potential for investment growth.
In another report released yesterday, Goldman Sachs also reiterated a Buy rating on the stock with a $567.00 price target.
MDGL’s price has also changed moderately for the past six months – from $339.870 to $391.430, which is a 15.17% increase.