In a report released today, Andrew Fein from H.C. Wainwright reiterated a Buy rating on Madrigal Pharmaceuticals, with a price target of $620.00.
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Andrew Fein’s rating is based on several key factors, including the positive feedback from key opinion leaders (KOLs) regarding the uptake and potential of Madrigal Pharmaceuticals’ drug, Rezdiffra. The KOLs have reported a strong real-world adoption of Rezdiffra, with significant penetration in high-volume centers, and they foresee further expansion opportunities despite anticipated competitive pressures from other therapies.
Fein also highlights that the expected competition has not materialized as a significant barrier due to access and administrative challenges faced by competitors, making Rezdiffra a preferred choice for core therapy and future combination treatments. Additionally, the anticipated growth in the use of non-invasive tests and increased awareness of MASH is expected to expand the addressable market for Rezdiffra, supporting Fein’s decision to raise the price target and maintain a Buy rating for Madrigal Pharmaceuticals.
In another report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $650.00 price target.