Madrigal Pharmaceuticals price target raised to $314 from $191 at Goldman Sachs
Goldman Sachs analyst Salveen Richter raised his price target for Madrigal Pharmaceuticals to $314 from $191 and reiterated a Buy rating on the shares. The analyst views its MGL-3196 as the best-in-industry drug to date for NASH, a fatty liver disease, based on Phase 2 liver biopsy results that translate into a de-risked Phase 3 program. Further, Richter believes Madrigal's study has demonstrated a clear link between efficacy per imaging test and improvement in NASH resolution per liver biopsy, which suggests the potential for adoption of non-invasive imaging to diagnose NASH and, thus, expand the market
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