Madrigal price target raised to $425 from $405 at H.C. Wainwright

H.C. Wainwright analyst Ed Arce raised the firm’s price target on Madrigal Pharmaceuticals to $425 from $405 and keeps a Buy rating on the shares. Rezdiffra was approved with a strong label that represents the “best case” for Madrigal’s commercial opportunity, the analyst tells investors in a research note. The $47,400 pricing is a bit higher than projected, “but nicely balances clinical value with patient access,” says the firm. It believes Madrigal’s 2024 “is all about building and developing a new market, for a blockbuster launch.”