UBS Reiterates Buy Rating on Madrigal Pharmaceuticals (MDGL)

UBS analyst Eliana Merle reiterated a Buy rating and $441.00 price target on Madrigal Pharmaceuticals (NASDAQ: MDGL).

The analyst commented, "We think even with the move up shares are still undervaluing MDGL's long-term potential opportunity in MASH. MDGL reported 4Q/FY24 EPS and hosted a call (we note 4Q sales pre-announced in January), and we caught up with mgmt afterwards. As we wrote earlier after the release, we think the color on the launch is encouraging & we think mgmt sounds upbeat on the commercial trajectory throughout the year, expecting demand to continue to grow. We think the updated Fibroscan 2-year data in F4 patients from the Ph3 MAESTRO-NAFLD- 1 trial was also encouraging & bodes well, in our view, for a potential outcomes benefit in the Ph3 MAESTRO-NASH OUTCOMES trial (data anticipated in '27). Shares were up ~15% yesterday (we think a mix of the F4 data, 1Q commentary & notably high short interest into the print."

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 $355.88 yesterday.

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