May. 13 at 11:03 AM
Truist⬆️
$MDGL's PT to
$709 and reiterated at a Buy rating after its survey work.
$IVA $NVO ALGS VKTX SGMT LLY
Truist said in its note:
We are raising our PT to
$709 from
$640 following our survey work (link to publication) that reinforces our belief in the sizable MASH patient numbers eligible for treatment that will translate to significant Rezdiffra revenues.
The survey work highlights physician preference for Rezdiffra as their choice for liver-targeted MASH agent, praise for Rezdiffra's safety profile, and desire for combination treatment that includes addition of Rezdiffra on to a background incretin.
We are increasing the US peak (2036E) MASH patients treated with Rezdiffra to 193k, from 158k prior, that now reflects ~8,000 US F2/F3 pt adds per year, which may be conservative, in our view.
