Evercore ISI analyst Liisa Bayko raised the firm’s price target on Madrigal Pharmaceuticals (MDGL) to $325 from $175 and keeps an Outperform rating on the shares after the company’s Phase 3 resmetirom data "blew expectations outta the park" by hitting on both primary endpoints. The analyst, who said the data solidify her assertion that resmetirom "could be a multibillion medicine," is comfortable buying the stock at current levels as she sees additional upside as Madrigal progresses towards commercialization. She also calls the data is good for the entire NASH space, including companies like Akero Therapeutics (AKRO) that Bayko says stands to benefit from overall market development.
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Published first on TheFly
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