Madrigal Pharmaceuticals' Rezdiffra Approval Sparks Higher Price Target from TD Cowen Analyst

Madrigal Pharmaceuticals (NASDAQ:MDGL) saw its price target raised to $554 from $390 by TD Cowen analyst Ritu Baral, citing the European Commission's approval of Rezdiffra, the first authorized therapy for metabolic dysfunction-associated steatohepatitis (MASH). The analyst incorporated the EU approval into her discounted cash flow model, adding Europe as a new revenue driver and lowering the discount rate applied to Madrigal's valuation. Rezdiffra's first-mover advantage in MASH is expected to support a strong commercial rollout and reinforce Madrigal's long-term growth profile.