UBS physician call supports ‘significant’ MASH opportunity for Madrigal

UBS analyst Eliana Merle keeps a Buy rating on Madrigal Pharmaceuticals with a $337 price target after hosting a physician call with an academic hepatologist to go over the metabolic dysfunction-associated steatohepatitis commercial and treatment landscapes. For Madrigal, the call increases conviction in the commercial opportunity for resmetirom, even in the face of GLP-1s, given the physician’s planned prescribing if approved, the analyst tells investors in a research note. The firm says the physician expects to prescribe resmetirom to up to half of his patients within the first year after approval, including 50%-75% of his F3 patients. UBS believes the call supports a “significant commercial opportunity” for Madrigal’s resmetirom.