Citi Reiterates Buy Rating on Madrigal Pharmaceuticals (MDGL)

Citi analyst David Lebowitz reiterated a Buy rating and $456.00 price target on Madrigal Pharmaceuticals (NASDAQ: MDGL)

The analyst comments "Madrigal hosted an investor webcast to go over its 2-year open-label data in F4C patients from its late-breaking presentation at EASL (see HERE). Mgt presented academic evidence for using liver stiffness, gauged by the Baveno VII criteria, as a biomarker for clinically significant portal hypertension (CSPH), which largely drives complications from cirrhosis. Rezdiffra showed statistically significant decreases over time in liver stiffness measurements and a wide variety of liver biomarkers like liver fat on quantitative MRI, elastographic measurements, and liver injury markers such as CK-18. A hosted KOL highlighted only 6 of 122 patients experienced decompensation events through 2 years, which is less than the expected annual event rate in the compensated cirrhotic population. Madrigal then noted baseline characteristics for patients in this OLE largely resembles the enrolled population for its outcomes trial, the results of which are expected in 1H27 to inform a label expansion for Rezdiffra in F4C."

For an analyst ratings summary and ratings history on Madrigal Pharmaceuticals click here. For more ratings news on Madrigal Pharmaceuticals click here.

Shares of Madrigal Pharmaceuticals closed at $300.76 yesterday.

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