Madrigal price target raised to $620 from $568 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Madrigal Pharmaceuticals (MDGL) to $620 from $568 and keeps a Buy rating on the shares. The firm increased penetration assumptions for Rezdiffra after speaking with six key opinion leaders. The leaders reported “robust real-world uptake,” with current F2/F3 penetration of liver fibrosis in patients with metabolic dysfunction-associated steatohepatitis averaging 23% in high-volume centers and longer-term expectations of 10%-20%, the analyst tells investors in a research note. Despite pressure from weight loss drugs, the leaders view Rezdiffra as an “effective, liver-directed, oral backbone therapy with broader expansion possibilities based on the future F4c data,” contends H.C. Wainwright.