Leerink Partners analyst Thomas Smith has maintained their bullish stance on MDGL stock, giving a Buy rating on August 20.
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Thomas Smith’s rating is based on several key factors that highlight Madrigal Pharmaceuticals’ promising future. The recent conditional market authorization granted by the European Commission for Rezdiffra to treat noncirrhotic MASH without a biopsy requirement marks a significant milestone. This approval positions Rezdiffra as the first and only approved MASH therapy in Europe, aligning with European treatment guidelines and paving the way for substantial market uptake.
Furthermore, the anticipated commercial rollout starting in Germany and expanding across Europe is expected to drive significant revenue growth. The company’s strong clinical, regulatory, and commercial execution, coupled with the positive results from the Phase 3 MAESTRO-NASH trial, bolster confidence in Rezdiffra’s market potential. As a result, Thomas Smith sees the European market as a crucial growth driver for Madrigal Pharmaceuticals, supporting his Buy rating.
In another report released on August 20, Citizens JMP also maintained a Buy rating on the stock with a $485.00 price target.
MDGL’s price has also changed moderately for the past six months – from $343.630 to $379.550, which is a 10.45% increase.