Madrigal Pharmaceuticals price target lowered to $381 from $397 at JMP Securities

JMP Securities lowered the firm’s price target on Madrigal Pharmaceuticals to $381 from $397 and keeps an Outperform rating on the shares. The Rezdiffra launch is underway with the first patients receiving drug in April and primarily favorable early coverage decisions, the analyst tells investors in a research note. The firm continues to expect demand will be high with management guiding to light Q2 revenues as time to fill a prescription is currently 60 days, which should improve throughout the year.