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MDGL

Madrigal Pharmaceuticals

$246.59

-4.69 (-1.87%)

07:40
08/07/18
08/07
07:40
08/07/18
07:40

Madrigal sees 'high likelihood of success' for Phase 3 MGL-3196 study

"We believe the 36-week data from our recently completed Phase 2 clinical study of MGL-3196 in patients with NASH suggest a high likelihood of success in a similarly designed Phase 3 study, for which we are actively preparing, pending regulatory agreement," stated Paul Friedman, CEO of Madrigal Pharmaceuticals in this morning's earnings release. "With our financial raise completed, which provided more than $300 million of additional capital, we are in a strong position to expedite the MGL-3196 development program in NASH and dyslipidemias." Added Becky Taub, CMO and Executive VP, Research & Development, "We believe the totality of data from our clinical and preclinical studies to date, including the consistency of the various parameters related to clinical benefits and safety, demonstrate the potential of MGL-3196 to resolve NASH and improve multiple atherogenic lipids. We are pleased our abstract was selected by AASLD as an oral presentation in the presidential plenary clinical session and look forward to presenting these encouraging clinical outcomes in November at The Liver Meeting 2018."

MDGL Madrigal Pharmaceuticals
$246.59

-4.69 (-1.87%)

06/28/18
RAJA
06/28/18
INITIATION
RAJA
Market Perform
Madrigal Pharmaceuticals initiated with a Market Perform at Raymond James
07/12/18
CANT
07/12/18
INITIATION
Target $59
CANT
Overweight
Cantor puts $59 price target on 'undervalued' NASH play Galmed
Cantor Fitzgerald analyst Elemer Piros last night initiated coverage of Galmed Pharmaceuticals (GLMD) with an Overweight rating and $59 price target. The stock closed yesterday down 45c to $10.55. The company is developing Aramchol, a novel, once-daily, oral therapy to treat liver diseases using fattyacid/bile-acid conjugates, Piros tells investors in a research note. The analyst believes that by Q4 of 2019, only three meaningful non-alcoholic steatohepatitis pivotal programs will be in development: Allergan's (AGN) cenicriviroc, Madrigal Pharmaceuticals' (MDGL) MGL-3196, and Galmed's Aramchol. Of the three drugs, Galmed's has the highest likelihood of achieving improvement on NASH resolution without worsening of fibrosis, and improvement in fibrosis score without worsening of NASH, Piros argues. He believes Galmed is undervalued relative to peers in the NASH space.
08/06/18
GSCO
08/06/18
DOWNGRADE
Target $314
GSCO
Neutral
Madrigal Pharmaceuticals downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Salveen Richter downgraded Madrigal Pharmaceuticals to Neutral with an unchanged price target of $314. The stock closed Friday down 41c to $250.93. The analyst continues to view MGL-3196 as a "best-in-industry, next-generation drug" for nonalcoholic steatohepatitis. However, with the stock up 173% year-to-date, he believes Madrigal is entering a "period of limited value-driving catalysts." Richter, while admitting a buyout could occur, sees limited upside in the shares.
08/06/18
GSCO
08/06/18
UPGRADE
Target $157
GSCO
Buy
Intercept upgraded to Buy from Sell at Goldman Sachs
Goldman Sachs analyst Salveen Richter double upgraded Intercept Pharmaceuticals (ICPT) to Buy from Sell and raised his price target for the shares to $157 from $46. The stock closed Friday down 3.5%, or $3.57, to $97.26. The analyst says Ocaliva in fatty liver disease nonalcoholic steatohepatitis is the crux of Intercept's value proposition and that he's positive into the Phase 3 Regenerate interim readout in the first half of 2019. Richter this morning also downgraded Madrigal Pharmaceuticals (MDGL) to Neutral from Buy. He believes, however, that Madrigal's MGL-3196 is a "best-in-industry, next-generation" drug for nonalcoholic steatohepatitis. The analyst expects Intercept's Ocaliva will achieve one or both of the Phase 3 co-primary endpoints of NASH resolution and fibrosis improvement. He sees share upside of 60%-plus as the first half of 2019 catalyst approaches. Intercept should benefit from Ocaliva's global first-mover advantage in NASH, Richter tells investors in a research note. Goldman estimates peak global sales of NASH drugs to be $3.7B.

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LMT

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AAPL

Apple

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WMT

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ERYP

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LMT

Lockheed Martin

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0.555 (0.15%)

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MDCO

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