Madrigal Pharmaceuticals price target raised to $527 from $485 at Citizens JMP

Citizens JMP raised the firm’s price target on Madrigal Pharmaceuticals (MDGL) to $527 from $485 and keeps an Outperform rating on the shares. Rezdiffra sales of $287M beat consensus estimates, driven by robust demand, with more than 29,500 patients now on the therapy in the U.S., the analyst tells investors in a research note. The firm is looking forward to Madrigal’s presence and MASH leadership at the Liver Meeting, which is kicking off later this week, where Rezdiffra will be featured in numerous presentations covering efficacy, safety, real-world use, quality of life improvements, early biomarkers, and durability of fibrosis regression.