B. Riley upgraded Madrigal Pharmaceuticals (MDGL) to Buy from Neutral with a price target of $422, up from $236. The firm notes the erosion of three key pillars to the prior cautious outlook, including Rezdiffra script volume growth within pre-cirrhotic metabolic dysfunction-associated steatohepatitis patients indication, expansion prospects within cirrhotic via the MAESTRO-MASH Outcomes trial data availability in 2027, the analyst tells investors in a research note.
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