Citizens JMP raised the firm’s price target on Madrigal Pharmaceuticals (MDGL) to $443 from $427 and keeps an Outperform rating on the shares. New 2-year data in cirrhotic patients showing a reduction in liver stiffness greater than Akero (AKRO) recently reported for its Fibroblast Growth Factor 21 analog efruxifermin, putting Rezdiffra front of mind as a potential solution to the highest unmet need metabolic dysfunction-associated steatohepatitis patients, the analyst tells investors in a research note. The firm believes 2025 consensus revenue estimate of $511M is “woefully low” when looking at the number of patients on Rezdiffra at year end-2024 and assuming a very conservative, declining patient growth rate.
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