Madrigal Pharmaceuticals (MDGL) PT Raised to $527 at Citizens on Redziffra Sales

Citizens analyst Jonathan Wolleben raised the price target on Madrigal Pharmaceuticals (NASDAQ: MDGL) to $527.00 (from $485.00) while maintaining a Market Outperform rating.

The analyst commented, "Rezdiffra posted another standout quarter with 3Q sales hitting $287M (35% Q/ Q growth), surpassing both consensus/our expectations ($247M/$240M). The growth reflects strong demand with >29,500 patients now on therapy (up from >23,000 in 2Q) and >10,000 prescribers. The growth is consistent with our survey work and modeling out this trajectory for 4Q leads us to bump up our 2025 estimate to ~$951M (vs. $863M previously and consensus of $914M; Figs. 1 and 2). MDGL did not yet see the expected GTN effect of contracting in 3Q, which will climb higher in 4Q and be in the high 30% range throughout 2026. This is in line with our expectations, and we expect the strong demand to far outpace the GTN impact. We are looking forward to MDGL's presence and MASH leadership at the Liver Meeting, which is kicking off later this week, where Rezdiffra will be featured in numerous presentations covering efficacy, safety, real-world use, quality of life improvements, early biomarkers, and durability of fibrosis regression."

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