Maxim analyst Naz Rahman raised the firm’s price target on Viking Therapeutics (VKTX) to $15 from $10 and keeps a Buy rating on the shares after Madrigal Pharmaceuticals (MDGL) announced that resmetirom met both primary endpoints at 52-weeks from the Phase 3 MAESTRO-NASH study. Viking and Madrigal are both developing the same class of compounds, selective thyroid hormone receptor-beta agonists, Rahman tells investors in a research note, adding that he believes Madrigal’s data partially de-risks the TR-beta agonist class.
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Published first on TheFly
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Read More on VKTX:
- Viking Therapeutics price target raised to $15 from $10 at Maxim
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