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.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on MDGL:
- Madrigal Pharmaceuticals price target raised to $194 from $75 at B. Riley
- Madrigal’s data bodes well for Viking’s de-risked VK2809, says BTIG
- Akero’s efruxifermin efficacy still compares favorably, says Morgan Stanley
- Trial success is rocketing this NASH stock higher and sinking these peers
- Madrigal Pharmaceuticals price target raised to $280 from $203 at Piper Sandler