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Fly News Breaks for January 9, 2020
MDGL
Jan 9, 2020 | 06:17 EDT
UBS analyst Navin Jacob upgraded Madrigal Pharmaceuticals to Buy from Neutral with a price target of $127, up from $125. The analyst sees an attractive risk/reward on the shares saying we're now one year closer to a Phase 3 readout and competition concerns are largely priced in. The stock has pulled back in the last month driven in part by a top holder selling a portion of its stake, which creates a "unique opportunity," Jacob tells investors in a research note.
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