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Fly News Breaks for May 15, 2019
MDGL, MDGL
May 15, 2019 | 04:55 EDT
Citi analyst Joel Beatty lowered his price target for Madrigal Pharmaceuticals to $186 from $200 citing a lack of near-term catalysts but maintains a Buy rating on the shares. The analyst still believes there will be a growing appreciation toward using nonalcoholic steatohepatitis drugs with a strong metabolic component and he sees Madrigal's Phase 3 trial design as favorable. Further, there is little takeover premium currently priced into the stock, Beatty tells investors in a research note.
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