Madrigal price target raised to $568 from $500 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Madrigal Pharmaceuticals (MDGL) to $568 from $500 and keeps a Buy rating on the shares. The company presented positive two-year data from the open-label compensated metabolic dysfunction-associated steatohepatitis cirrhosis arm of the Phase 3 MAESTRO-NAFLD-1 trial, the analyst tells investors in a research note. The firm says thestudy bolsters confidence for Rezdiffra’s efficacy in compensated cirrhosis patients. It believes Rezdiffra should remain the default oral backbone as the field moves toward combination therapy.