$CYTK GS Buy rated on $CYTK. 12-month price target of $105 reflects de-risking of the nHCM indication following the recent positive ACACIA-HCM data and is based on a blended DCF/M&A analysis. DCF assumes a 13% discount rate and 0% terminal growth rate, which implies an intrinsic value of $102 per share, M&A analysis applies an unchanged 12x multiple to our 2030 US and EU risk-adjusted sales estimates and implies an updated theoretical M&A price of $113 per share.

To all generalists, time for part 5 of the ‘biotech outperformance train’ series and the first one of 2026. I personally think there is an incredible opportunity still in our sector , but you’re gonna have to be slight more selective. Before I dive into that let’s start off with returns since this series started : 07/28/25 $spy 8.5% $qqq 9.75% $iwm 19% $xbi 49%!! $bbc 95.7%!!!! Looking back, wow we’ve been on an incredible run. But is the run over? Do we need to step back here? Personally, I don’t think so. I think whilst we may have some pull backs , history and broader market conditions seem to suggest that the bull market should continue for at least some time. What I will say is , and this is very important, as it stands , the good biotechs are still not expensive by any means but the bad biotechs are now starting to get expensive. Not too expensive yet but getting close to those levels. So you’re at that juncture where if you’re still net long or long only then it’s a good time to be also letting the short book in on the action a little more. Good biotech examples: $abvx $cogt $lqda $celc $tern … and more Bad biotech examples: $sana $ntla $abcl $inbx $glto $ibrx and more I also think M&A valuations / premiums however way you frame it, may need a reset. We thought that happened after $mtsr and $cdtx but the $rvmd news and the broader slow down in deal news in January tells me that BP has decided to reel it in for a bit and not fall into the silly multiple trap as they did in 2020 as well. But thing is 2020 circumstances were a lot different imo and all it’ll take is 1-2 moves from BP and that reset will start to get normalised again. Also there’s not that many good companies out there in hindsight , so it’s one of those situations for BP , game theory 101. And that’s probably why I think it’s time to short on valuation once again (accounting for the valuation reset across the board, so going after only the super stretched valuations) and stay long or be more aggressive in buying biotechs that are executing well.

$ABVX What did this person already know?

$MDGL $LLY Madrigal’s recently licensed GLP-1 is ‘Orforglipron’ derivative. CEO Bill Sibold said they are only looking for moderate weight loss which offers potential for a best-in-class MASH treatment in combination with Rezdiffra in a once-a-day, well-tolerated pill 💊

$ABVX $JNJ $PTGX All ORAL combo interesting Saturday musings - I like it & $JNJ all ready on record saying Icotyde likely to be its largest drug ever - why not ???

$LLY Eli Lilly should absolutely acquire $MDGL Madrigal Why ⁉️ For Lilly, buying Madrigal would immediately establish a dominant position in liver disease rather than waiting for internal programs to mature. A combined Lilly-Madrigal portfolio could offer 🔰 ✚ Tirzepatide for metabolic dysfunction and weight loss ✚ Rezdiffra for direct liver-targeted fibrosis improvement ✚ Future combination regimens Owning $MDGL Madrigal would give Lilly the leading approved liver-directed therapy and make it harder for competitors to build comprehensive metabolic disease franchises. Rezdiffra could be expanded internationally much faster under $LLY Lilly's commercial infrastructure than as a standalone company. Some investors have argued this is one reason $MDGL could be attractive as an acquisition target. Revenue Diversification 💲 Lilly currently depends heavily on obesity and diabetes growth. Madrigal would provide: ✚ A separate blockbuster franchise ✚ Additional intellectual property ✚ Exposure to hepatology specialists ✚ A growing pipeline beyond Rezdiffra, including GLP-1 combinations and siRNA programs #MASH #Rezdiffra #Tirzepatide

Looks like $xbi warming up for buyout . Won't be surprised if it is $tvtx Significant buying with upward price tick is indicator that prospective buyer building a position. And TVTX is derisked with fda approvals.

You notice all the large Pharmas at the GSCO HC conference this week ALL mentioned M&A as their growth strategy. $MDGL is primed and I got a list of others

$MDGL A MAJOR STEP FORWARD FOR PATIENTS LIVING WITH METABOLIC DYSFUNCTION-ASSOCIATED STEATOHEPATITIS #MASH ACROSS THE MIDDLE EAST AND NORTH AFRICA #MENA   On March 30, 2026, NewBridge Pharmaceuticals and Madrigal Pharmaceuticals entered into a distribution agreement for the MENA region, reinforcing a shared commitment to improving access to innovative therapies for patients living with serious liver disease. Source: linkedin.com/posts/newbridge…   #MASH $XBI $LLY $NVO $MRK

$MRK IF "efinopegdutide" delivers only modest efficacy, then acquiring $MDGL Madrigal becomes more attractive because It instantly gives Merck a commercial MASH platform. A combined Rezdiffra efinopegdutide franchise could potentially create combination-treatment opportunities and give Merck a dominant position in MASH.