Goldman Sachs analyst Andrea Newkirk has maintained their bullish stance on MDGL stock, giving a Buy rating on June 5.
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Andrea Newkirk’s rating is based on the recent positive opinion from the Committee for Medicinal Products for Human Use (CHMP) regarding Madrigal Pharmaceuticals’ drug, Rezdiffra, for treating noncirrhotic MASH with moderate to advanced liver fibrosis. This recommendation for conditional approval in the EU is a significant milestone, as it could lead to Rezdiffra being the first approved NASH therapy in the region, potentially driving substantial growth for the company.
Furthermore, the anticipated EU approval is expected to open up considerable market opportunities, with Madrigal Pharmaceuticals planning a strategic country-by-country launch starting with Germany. The company’s proactive approach in engaging with stakeholders and its efforts to build a strong team for the European market further support the positive outlook. These factors combined suggest a promising future for Rezdiffra and justify the Buy rating.
According to TipRanks, Newkirk is an analyst with an average return of -11.1% and a 0.00% success rate.
In another report released on June 5, Citizens JMP also reiterated a Buy rating on the stock with a $470.00 price target.