Madrigal Pharmaceuticals (NASDAQ:MDGL) PT Lowered to $215.00 at HC Wainwright

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price dropped by equities research analysts at HC Wainwright from $225.00 to $215.00 in a research note issued on Thursday, November 7th, Briefing.com Automated Import reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 116.08% from the stock’s previous close.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

A number of other research firms have also weighed in on MDGL. BidaskClub raised shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 29th. B. Riley set a $134.00 target price on shares of Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 9th. Cowen reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 6th. ValuEngine raised shares of Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Citigroup cut their price objective on shares of Madrigal Pharmaceuticals from $186.00 to $173.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Three analysts have rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $161.13.

Shares of MDGL traded up $0.75 during trading hours on Thursday, hitting $99.50. The stock had a trading volume of 204,200 shares, compared to its average volume of 122,502. The firm has a market cap of $1.52 billion, a P/E ratio of -44.82 and a beta of 1.11. Madrigal Pharmaceuticals has a 12-month low of $82.31 and a 12-month high of $148.18. The company’s fifty day simple moving average is $91.60 and its 200 day simple moving average is $95.62.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.42) by $0.03. During the same quarter last year, the business posted ($0.56) EPS. As a group, sell-side analysts expect that Madrigal Pharmaceuticals will post -5.1 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Impact Advisors LLC increased its stake in Madrigal Pharmaceuticals by 32.9% in the second quarter. Capital Impact Advisors LLC now owns 18,148 shares of the biopharmaceutical company’s stock valued at $1,823,000 after acquiring an additional 4,489 shares during the period. BlackRock Inc. grew its stake in Madrigal Pharmaceuticals by 7.6% during the second quarter. BlackRock Inc. now owns 562,032 shares of the biopharmaceutical company’s stock worth $58,906,000 after buying an additional 39,492 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Madrigal Pharmaceuticals by 244.5% during the second quarter. Russell Investments Group Ltd. now owns 15,313 shares of the biopharmaceutical company’s stock worth $1,602,000 after buying an additional 10,868 shares during the last quarter. University of Notre Dame DU Lac grew its stake in Madrigal Pharmaceuticals by 80.2% during the second quarter. University of Notre Dame DU Lac now owns 34,736 shares of the biopharmaceutical company’s stock worth $3,641,000 after buying an additional 15,463 shares during the last quarter. Finally, Swiss National Bank grew its stake in Madrigal Pharmaceuticals by 12.1% during the second quarter. Swiss National Bank now owns 15,700 shares of the biopharmaceutical company’s stock worth $1,646,000 after buying an additional 1,700 shares during the last quarter. 61.85% of the stock is currently owned by institutional investors and hedge funds.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

Recommended Story: What is the Hang Seng index?  

Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

Leave a Reply

Your email address will not be published. Required fields are marked *

*