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Fly News Breaks for September 17, 2019
MDGL
Sep 17, 2019 | 06:34 EDT
Citi analyst Joel Beatty lowered his price target for Madrigal Pharmaceuticals to $173 from $186 while maintaining a Buy rating on the shares. The analyst reduced his launch estimates for Resmetirom, saying it appears that there's a near-term lack of progress on non-invasive diagnostics for nonalcoholic steatohepatitis. The analyst expects non-invasive diagnostics to become the standard for diagnosing NASH but is not confident that they will be widely adopted early on in the launch of the first NASH drugs. However, he continues to view Madrigal's Resmetirom as one of the most promising agents in later-stage development for the treatment of earlier-stage NASH, particularly those with dyslipidemia.
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