Madrigal data ‘great readthrough’ for Viking, says H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis says Madrigal Pharmaceuticals’ (MDGL) data from the ongoing Phase 3 MAESTRO-NASH trial of resmetirom provides further confidence ahead of Viking Therapeutics’ (VKTX) VOYAGE readout in the first half of 2023. The MAESTRO program thus far appears to be a positive catalyst within the broader nonalcoholic steatohepatitis clinical landscape "and certainly benefit Viking with the same therapeutic target," Pantginis tells investors in a research note. The analyst sees Madrigal data as a "great readthrough" for VK2809. He reminds investors that Viking’s VK2809 has not reported any appreciable gastrointestinal related adverse events in its studies. Pantginis reiterates a Buy rating on Viking Therapeutics with a $21 price target. The stock in morning trading is up 51% to $6.07.