H.C. Wainwright Thinks Madrigal Pharmaceuticals Inc’s Stock is Going to Recover

H.C. Wainwright analyst Ed Arce maintained a Buy rating on Madrigal Pharmaceuticals Inc (MDGL) today and set a price target of $228. The company’s shares opened today at $126.86, close to its 52-week low of $91.56. Arce noted: “We continue to expect the initiation of an additional Phase 3 study by mid-2019 in patients with NAFLD (simple steatosis) and early NASH (no fibrosis) and dyslipidemia. Recall, a prior study in patients with heterozygous familial hypercholesterolemia (HeFH), have demonstrated the pleiotropic activity of resmetirom which includes reducing levels of an array of atherogenic lipids; LDL-C, ApoB, triglycerides, ApoCIII, and Lp(a), liver[…]

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Oppenheimer Maintains a Hold Rating on RH (RH)

In a report released today, Brian Nagel from Oppenheimer maintained a Hold rating on RH (RH). The company’s shares opened today at $112.77. Nagel wrote: “Yesterday (Mar. 28th) after the market close, Perform-rated RH (RH) reported fiscal Q4:18 (Jan. 2019) results and updated guidance for FY19 (Jan. 2020). Shares are trading down markedly, upon indications of a weaker than expected end to last year and beginning of 2019. Management outlined clearly that the combination of macro challenges and some internal issues has weighed upon sales trends at the chain over the past several weeks. As we have indicated, we admire[…]

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Celyad (CYAD) Gets a Buy Rating from H.C. Wainwright

H.C. Wainwright analyst Edward White maintained a Buy rating on Celyad (CYAD) today and set a price target of $52. The company’s shares opened today at $21.09. White wrote: “We base our $52 price target on probability-adjusted revenue forecasts for CYAD-01 in r/r AML, and third-line metastatic for metastatic CRC. We use the net present value of our revenue forecast through 2027, apply a 25% POS for 20% POS for 10% POS for 4x price/sales multiple. We include our year-end 2019 estimated fully diluted net cash of $0.97/share (assuming €1.00 = $1.13) to arrive at our price target. Our P/S[…]

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Bluebird Bio (BLUE) Gets a Hold Rating from Maxim Group

Maxim Group analyst Jason McCarthy maintained a Hold rating on Bluebird Bio (BLUE) today. The company’s shares opened today at $155.27. McCarthy wrote: “Bluebird announced a positive opinion from CHMP recommending conditional marketing authorization for Zytenglo gene therapy for non-β 0 /β 0 transfusion- dependent β-thalassemia (TDT) in the EU. Zytenglo approval would usher in the first gene therapy for TDT and the first approved therapy for bluebird. Following the CHMP opinion, an EU marketing decision is expected in 2Q19. NDA filing in the U.S. is expected later this year.” According to TipRanks.com, McCarthy is ranked 0 out of 5[…]

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