Madrigal Pharmaceuticals (MDGL)
Commercializes Rezdiffra and develops combination therapies for MASH.
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Markets Rezdiffra, an oral liver-directed treatment for MASH with moderate to advanced fibrosis, in the United States and Germany. Revenue comes from this sole approved product, while MGL-2086, ervogastat, and siRNA programs extend the pipeline around additional and combination approaches to the same disease.
Commercializes Rezdiffra, a once-daily oral liver-directed THR-β agonist for adults with noncirrhotic metabolic dysfunction-associated steatohepatitis (MASH) and moderate to advanced liver fibrosis. The drug launched in the United States after accelerated FDA approval and in Germany after conditional European Commission authorization; U.S. distribution runs through specialty pharmacies.
Builds a MASH pipeline around Rezdiffra through the oral GLP-1 candidate MGL-2086, the DGAT-2 inhibitor ervogastat, and siRNA programs aimed at disease-driving genes. MGL-2086 entered initial clinical testing, while Rezdiffra is also being studied in compensated MASH cirrhosis.
Revenue depends on Rezdiffra, which remains the only approved product. Its U.S. accelerated approval and European conditional authorization depend on ongoing confirmatory clinical work.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 4, 2026 | Wolfe Research | Upgrade | Target: $579 | Target: $605 |
| Jul 31, 2026 | Barclays | Target | Target: $964 | Target: $962 |
| Jul 29, 2026 | Canaccord Genuity | Reiterate | Rating: —Target: $578 | Target: $587 |
| Jul 27, 2026 | Wells Fargo | Initiate | Rating: —Target: $130 | Target: $685 |
| Jun 11, 2026 | Morgan Stanley | Target | Target: — | Target: $542 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $838.8M · Total debt $347.8M · Total assets $1.24B · Shareholders' equity $523.7M
- Revenue
- $364.3M
- Operating income
- −$56.3M
- Net income
- −$57.9M
No dividends on record.
| Institutions | ≥ 99.00% | 22.87M shares | |
|---|---|---|---|
| 439 holders · as of Jun 30, 2026 · largest filers only | |||
| Insiders | 18.93% | 4.37M shares | |
| 16 holders · as of Sep 11, 2026 | |||
| Strategic holders | 8.74% | 2.02M shares | |
| 1 holder · as of May 15, 2026 | |||
| Adds to | 126.67% | ||
23.10M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the 89 largest filers, so at least this.
These groups come from separate filings that can overlap, so they add to 126.67%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Baker Bros. Advisors LPInstitution | 9.28% | 2.14M | as of Jun 30, 2026 |
Janus Henderson Group PLCStrategic | 8.74% | 2.02M | filed May 15, 2026 |
RTW Investments, LPInstitution | 8.63% | 1.99M | as of Jun 30, 2026 |
Jupiter Topco LLCInstitution | 8.38% | 1.94M | as of Jun 30, 2026 |
Avoro Capital Advisors LLCInstitution | 7.94% | 1.83M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 11, 2026 | William John Sibold | director, officer: President and CEO | −5,221 | $542.39 |
| Sep 9, 2026 | William John Sibold | director, officer: President and CEO | −6,362 | $535.59 |
| Aug 17, 2026 | Shannon T. Kelley | officer: General Counsel | −664 | $514.97 |
| Jul 20, 2026 | William John Sibold | director, officer: President and CEO | −2,500 | $547.30 |
| Jun 1, 2026 | David Soergel | officer: Chief Medical Officer | −1,042 | $495.74 |
- Novo Nordisk (ADR)
Wegovy (semaglutide) FDA-approved for MASH; FGF21 analog EFX acquired via Akero
- Eli Lilly
Tirzepatide in Phase 3 MASH trial; dominant GIP/GLP-1 metabolic franchise
- Viking Therapeutics
VK2809 oral THR-β agonist; same class as resmetirom; Phase 3 planned
- Inventiva (ADR)
Lanifibranor pan-PPAR agonist in Phase 3 NATiV3 MASH trial; pivotal data 2H 2026
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Madrigal Pharmaceuticals | $521.10 | −0.16% | $12.06B | — | — | 9.4 | +71.2% |
| Novo Nordisk (ADR) | $39.72 | −0.21% | $176.83B | 9.9 | 16.3 | 3.5 | +1.3% |
| Eli Lilly | $1,169.00 | +0.35% | $1.10T | 39.1 | 28.6 | 13.8 | +47.7% |
| Viking Therapeutics | $37.14 | +23.35% | $3.51B | — | — | — | — |
| Inventiva (ADR) | $3.51 | −3.93% | $189.7M | — | — | 36.9 | −79.0% |
| Median | 24.5 | 22.4 | 13.8 | +1.3% |