BMO Capital Starts Madrigal Pharmaceuticals (MDGL) at Market Perform

BMO Capital analyst Matthew Luchini initiates coverage on Madrigal Pharmaceuticals (NASDAQ: MDGL) with a Market Perform rating and a price target of $135.00.

The analyst comments "Our Market Perform rating is based on our belief that while we are positive on lead drug resmetirom and its potential in the NASH market we believe current levels appropriately reflect clinical progress made to date. Given Phase 3 results are not expected until the end of 2021 we believe shares will likely remain range-bound in the near term and we see balanced risk/reward at current levels."

For an analyst ratings summary and ratings history on Madrigal Pharmaceuticals click here. For more ratings news on Madrigal Pharmaceuticals click here.

Shares of Madrigal Pharmaceuticals closed at $110.32 yesterday.

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