Madrigal Pharmaceuticals price target raised to $900 from $540 at Piper Sandler

Piper Sandler raised the firm’s price target on Madrigal Pharmaceuticals (MDGL) to $900 from $540 and keeps an Overweight rating on the shares. The firm notes Madrigal has been trading up, about 75% since August, following REZDIFFRA’s weight-threshold dosing patent extended IP protection out to 2045. Subsequently, this raises the question of where the stock will go in 2026. Keeping this in mind, Piper took this opportunity to revisit its model and updated its price target given its increased conviction in REZDIFFRA’s lucrative MASH opportunity, both in the F2/F3 and F4 populations.