B. Riley analyst Mayank Mamtani lowered the firm’s price target on Madrigal Pharmaceuticals to $200 from $270 and keeps a Neutral rating on the shares post the Q1 report. The analyst cites anticipated competitive pressure from GLP-1-based therapies impacting future Rezdiffra market penetration and share, driven in part by uncertainties to payer coverage policy, for the target cut.
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