Raymond James analyst Steven Seedhouse upgraded Madrigal Pharmaceuticals (MDGL) to Market Perform from Underperform following the MAESTRO-NASH data, which leads him to believe resmetirom could be approved by 2024 assuming the dataset holds up on fuller presentation. The analyst, who said he will "take our medicine on this stock call," still contends that these data "at best" place Madrigal as a "second best" option to either FGF21s or Viking Therapeutics (VKTX) "years down the road anyway" and argues that the market’s initial reaction is already pricing in approval.
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Published first on TheFly
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