JMP Securities ‘optimistic’ on Madrigal following Amarin’s Vascepa data

JMP Securities analyst Liisa Bayko said she feels “optimistic” regarding MGL-3196’s potential cardiovascular benefit following Amarin’s (AMRN) announcement that Vascepa reduced the risk of major adverse CV events in the REDUCE-IT long-term outcomes study. The REDUCE-IT data lays an argument that Madrigal’s MGL-3196, which has a similar impact on cardiometabolic parameters, may also provide a CV benefit, contends Bayko. She maintains an Outperform rating and $300 price target on Madrigal Pharmaceuticals shares.
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