Streetbeat News

MDGL

Madrigal Pharmaceuticals, Inc.

https://www.madrigalpharma.com

Industry

Biotechnology

Madrigal Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-ß agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis. The company also develops MGL-3745, a backup compound to resmetirom. It has research, development, and commercialization agreement with Hoffmann-La Roche. Madrigal Pharmaceuticals, Inc. is headquartered in West Conshohocken, Pennsylvania.

Open

303.29

Mkt cap

6.3B

Volume

934K

High

303.29

P/E Ratio

-11.53

52-wk high

368.29

Low

272.72

Div yield

N/A

52-wk low

166.00

Madrigal Pharmaceuticals has announced a proposed public offering of $500 million worth of common stock and pre-funded warrants. This move is aimed at raising capital, potentially for further research, development, and expansion of its operations.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:05 pm

Today's session highlighted significant whale activity in the health care sector, focusing on options trading for 10 companies. The trades varied in sentiment, with both bullish and bearish positions taken across a range of expiration dates and strike prices. Notable activity included bullish calls on HROW, ZTS (despite being a put), SHC, ABBV, and AMGN, and bearish positions on IMTX, LQDA, MDGL, DXCM, and LLY (despite being a put). This activity could indicate investor expectations and market movements.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 5:35 pm

Jabil Inc. shares fell over 14% after reporting Q2 results and FY25 guidance below estimates. Other stocks also showed significant movement, with notable gainers including Verb Technology and Better Therapeutics, and losers like C3is Inc. and SELLAS Life Sciences.

Portfolio Pulse from Avi Kapoor

March 15, 2024 | 6:31 pm

UBS analyst Eliana Merle maintains a Buy rating on Madrigal Pharmaceuticals (MDGL) and raises the price target from $337 to $410.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 5:13 pm

TD Cowen analyst Ritu Baral maintains an Outperform rating on Madrigal Pharmaceuticals (MDGL) and raises the price target from $349 to $390.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 4:44 pm

The FDA has conditionally approved Madrigal Pharmaceuticals Inc.'s Rezdiffra (resmetirom) for noncirrhotic nonalcoholic steatohepatitis (NASH) with moderate to advanced liver scarring, marking the first FDA approval for a treatment of liver scarring due to fatty liver disease. The approval is based on the Phase 3 MAESTRO-NASH trial results, showing significant improvement in NASH resolution and liver scarring. Rezdiffra will be available in the U.S. in April through a limited specialty pharmacy network. Following the news, Madrigal Pharmaceuticals shares surged 10.67% to $269.55.

Portfolio Pulse from Vandana Singh

March 15, 2024 | 3:32 pm

Citigroup analyst David Lebovitz has maintained a Buy rating on Madrigal Pharmaceuticals (MDGL) and increased the price target from $382 to $389.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 3:10 pm

Blend Labs, Inc. (BLND) reported Q4 financial results with a loss of 9 cents per share and sales of $36.10 million, causing its shares to jump 24.3%. Other stocks like Cardlytics, Inc. (CDLX), American Vanguard Corporation (AVD), and Madrigal Pharmaceuticals, Inc. (MDGL) also saw significant gains following their earnings reports or other positive news. The overall market was down, with the Dow Jones index falling around 100 points.

Portfolio Pulse from Avi Kapoor

March 15, 2024 | 2:25 pm

In Friday's pre-market session, several healthcare stocks showed significant movement. Better Therapeutics (BTTX) led the gainers with an 85.4% increase, while SELLAS Life Sciences Gr (SLS) experienced the largest drop among the losers, decreasing by 33.5%. Other notable movers include Madrigal Pharmaceuticals (MDGL) with a 22.34% increase and Lucy Scientific Discovery (LSDI) with a 25.53% decrease. The movements were attributed to various factors including quarterly earnings reports.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 1:06 pm

Madrigal Pharmaceuticals (MDGL) shares surged 28% following FDA approval of Rezdiffra for NASH treatment. Cardlytics (CLDX) shares jumped 53% after reporting strong Q4 revenue and optimistic Q1 guidance, with Needham maintaining a Buy rating and raising the price target. Adobe (ADBE) shares fell 12% due to disappointing Q1 results and weak future guidance, alongside multiple firms reducing their price targets.

Portfolio Pulse from ryanfaloona@benzinga.com

March 15, 2024 | 12:36 pm

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