Truist raised the firm’s price target on Madrigal Pharmaceuticals (MDGL) to $640 from $580 and keeps a Buy rating on the shares. The firm is citing its increased conviction in Rezdiffra’s potential, specifically in MASH F4 subtype, following data at AASLD, the analyst tells investors in a research note. Truist adds that its conviction on the stock is reflected in peak adjusted MASH F4 sales estimate of $1.5B vs. $750M previously.
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