Truist raises PT on Madrigal Pharma on liver disease drug opportunity
Truist raises PT on Madrigal Pharmaceuticals MDGL.O to $709 from $640, reiterates "buy" rating
Brokerage says its physician survey points to a larger opportunity for Rezdiffra, MDGL's drug for metabolic dysfunction-associated steatohepatitis (MASH), a fatty liver disease that can cause scarring of the organ
Says its survey showed physicians prefer Rezdiffra for MASH, citing its safety profile
Adds the survey also showed physician interest in combining Rezdiffra with incretin drugs, a class of metabolic medicines
Truist raises its U.S. peak estimate for MASH patients on Rezdiffra to 193,000 from 158,000
Truist lifts its worldwide peak adjusted revenue estimate for Rezdiffra to $8.9 billion from $7.7 billion
As of last close, MDGL down 12.4% YTD
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