Madrigal Pharmaceuticals initiated with an Overweight at Barclays

Barclays initiated coverage of Madrigal Pharmaceuticals (MDGL) with an Overweight rating and $964 price target Barclays initiated coverage of 12 biotech stocks and assumed coverage of 11 with a positive view of the industry. The analyst likes the setup for the group in 2026. Many biotech stocks remain undervalued, the analyst tells investors in a research note. The firm expects continued mergers and acquisitions, “strong” underlying fundamentals, and less of a focus on drug pricing to act as “significant tailwinds.”