MDGL Price Prediction Next Week
Analysis and Insights
News Sentiment and Recent Developments:
Madrigal Pharmaceuticals (MDGL) has recently reported positive two-year data from the Phase 3 MAESTRO-NAFLD-1 trial, showing significant benefits of Rezdiffra for compensated fatty liver cirrhosis. This has led to a strong positive reaction in the stock price, reflecting investor confidence in the company's pipeline and growth prospects.
Analysts have maintained a Strong Buy rating on MDGL, with a high price target of $415, indicating a potential upside of 24.4% from current levels.
Technical Analysis:
The stock is currently trading above its 20, 50, and 200-day moving averages, indicating a strong uptrend. The RSI is at 53, suggesting the stock is not overbought, and the MACD is positive, signaling continued upward momentum.
Key resistance levels based on Fibonacci analysis are at $347.09 and $355.35, while support levels are at $320.37 and $312.11. The stock is expected to test the first resistance level of $347.09 in the coming week.
Price Prediction:
Based on the positive news sentiment, strong technical indicators, and analyst consensus, the stock is expected to reach $347.09 by the end of the next trading week.
Recommendation:
Buy MDGL as the stock is expected to continue its upward trend, driven by positive clinical data and strong analyst sentiment.
MDGL Similar Chart Price Prediction
The price of MDGL is predicted to go up -6.92%, based on the high correlation periods with COE. The similarity of these two price pattern on the periods is 93.24%.
MDGL
COE
Down: -6.92%Similarity: 93.24%
MDGL Revenue Forecast
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MDGL Analyst's Forecast
Mayank Mamtani
B. Riley Securities
Hold
2024-11-05
Price Target
$194 → $236
Downside
-30.1%
B. Riley analyst Mayank Mamtani raised the firm's price target on Madrigal Pharmaceuticals (MDGL) to $236 from $194 and keeps a Neutral rating on the shares. Madrigal's Q3 earnings "blowout" print reaffirmed Rezdiffra's robust early launch trends in advanced nonalcoholic steatohepatitis patients and competitor Novo Nordisk's (NVO) positive Phase III ESSENCE liver biopsy readout a net positive at large for the MASH therapeutics' landscape and drove a 40% equity move, the analyst tells investors in a research note. Further upside for Madrigal is limited, however, due to flattening Rezdiffra new prescriptions and the floodgates opened for multiple next-gen GLP1 based therapies, the firm says.
Eliana Merle
UBS
Strong Buy
2024-11-01
Price Target
$411 → $441
Upside
+37.99%
Jay Olson
Oppenheimer
Buy
2024-10-23
Price Target
$375 → $350
Upside
+72.86%
