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Fly News Breaks for December 12, 2018
MDGL
Dec 12, 2018 | 07:39 EDT
Citi analyst Joel Beatty lowered his price target for Madrigal Pharmaceuticals to $200 saying he sees a lack of near-term catalysts for the shares. Further, after last month's presentation, the benefits of MGL-3196 appear smaller than previously thought, Beatty tells investors in a research note. However, he still believes that MGL-3196 is competitive with other late-stage nonalcoholic steatohepatitis drugs in development. The analyst still expects the drug to be approved and keeps a Buy rating on Madrigal.
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