Madrigal Pharmaceuticals price target raised to $405 from $325 at Evercore ISI

Evercore ISI raised the firm’s price target on Madrigal Pharmaceuticals to $405 from $325 and keeps an Outperform rating on the shares after the firm updated its model to include pricing of $47,4000 in the U.S. and a lower discount for approvals in the EU and rest of the world following the FDA approval of Rezdiffra. With a “clean label in hand & an additional $600M in the bank,” Madrigal is “well positioned to execute on the launch,” the analyst tells investors.