Piper Sandler analyst Yasmeen Rahimi upgraded Aligos Therapeutics (ALGS) to Overweight from Neutral with a price target of $3, up from $2, following peer Madrigal Pharmaceuticals’ (MDGL) "highly encouraging" resmetirom data, which she sees validating the mechanism of action in NASH. Rahimi, who believes that ALG-055009 has a "competitive and potentially differentiated drug profile," anticipates significant investor interest in Aligos’ NASH asset and also believes that the company has a "compelling" HBV franchise and COVID asset with momentum coming into 2023.
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Published first on TheFly
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