Canaccord lowered the firm’s price target on Madrigal Pharmaceuticals (MDGL) to $578 from $587 and keeps a Buy rating on the shares. The firm updated its model following Q1 results and said the target decrease is driven solely by a change in the company’s dilution calculation, which, starting in 1Q26, includes the pre-funded warrants, Series A preferred stock, and Series B preferred stock.
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