As previously reported, BofA upgraded Madrigal Pharmaceuticals (MDGL) to Neutral from Underperform with a price target of $445, up from $266. MASH treatment Rezdiffra has outperformed the firm’s “initial cautious expectations,” but the structural issues prompting its concerns remain, the analyst tells investors. With Rezdiffra’s near-term uptake likely to continue, shares should retain a measure of support, but the firm thinks upside potential may be limited with competitive challenges increasing, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MDGL:
- Madrigal Pharmaceuticals upgraded to Neutral from Underperform at BofA
- MDGL Upcoming Earnings Report: What to Expect?
- Sagimet Biosciences initiated with a Buy at Clear Street
- Madrigal Pharmaceuticals price target raised to $540 from $400 at Piper Sandler
- Madrigal Pharmaceuticals: Strong Growth Potential Driven by Rezdiffra’s Market Leadership and Strategic Opportunities