TD Cowen analyst Ritu Baral raised the price target on Madrigal Pharmaceuticals (NASDAQ: MDGL) to $390.00 (from $349.00) while maintaining an Outperform rating.

The analyst commented, "FDA approved THR-β agonist Rezdiffra (resmetirom) for NASH with moderate to advanced fibrosis 'consistent with F2/F3,' with no biopsy requirement in indication language. The label is very clean with no market-limiting warnings, monitoring requirements or contraindications. A $47.4K WAC was announced, with specialty distribution. We model FY24 sales of $97M and peak sales of $4.9B in 2031."