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.
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