Madrigal Pharmaceuticals (MDGL) reported a strong performance for the third quarter of 2024, with net sales reaching $62.2 million, significantly surpassing the consensus estimate of $36 million. The company's earnings per share (EPS) of -$4.92 also beat expectations, which were projected at -$6.92. The positive results have contributed to a notable increase in MDGL's stock price, which rose by approximately 20%, reaching around $260. Analysts from Cantor Fitzgerald have raised their revenue forecast for MDGL to $589 million for 2025, exceeding the previous consensus of about $400 million. The company has achieved a coverage goal for its treatment, Rezdiffra (resmetirom), with over 80% of commercial lives now covered. Investors are optimistic about the future growth potential, particularly regarding the reauthorization of Rezdiffra treatment for patients beyond 12 months.