Madrigal Pharmaceuticals price target raised to $405 from $275 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Madrigal Pharmaceuticals to $405 from $275 and keeps a Buy rating on the shares. The firm believes resmetirom is set to quickly become the foundational, standard-of-care therapy for metabolic dysfunction-associated steatohepatitis. The analyst thinks FDA approval of resmetirom “is all but a certainty.” This substantial first-mover advantage should enable resmetirom to achieve blockbuster status fairly quickly, and offers commercial benefits in both adoption and persistence that remain underappreciated by the Street, the analyst tells investors in a research note.