Madrigal Pharmaceuticals Inc (MDGL) Receives Average Recommendation of “Buy” from Analysts

Shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) have received a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $126.80.

Several research firms recently issued reports on MDGL. Zacks Investment Research upgraded Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday. Evercore ISI increased their target price on Madrigal Pharmaceuticals from $65.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, December 7th. HC Wainwright increased their target price on Madrigal Pharmaceuticals from $54.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. JMP Securities increased their target price on Madrigal Pharmaceuticals from $63.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th. Finally, Roth Capital began coverage on Madrigal Pharmaceuticals in a research report on Thursday, October 19th. They set a “buy” rating and a $62.00 target price for the company.

Shares of Madrigal Pharmaceuticals (MDGL) opened at $94.65 on Wednesday. Madrigal Pharmaceuticals has a 1 year low of $13.09 and a 1 year high of $101.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.11. equities analysts predict that Madrigal Pharmaceuticals will post -2.57 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at approximately $100,000. New York State Common Retirement Fund purchased a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at approximately $109,000. JPMorgan Chase & Co. purchased a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at approximately $325,000. California State Teachers Retirement System purchased a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at approximately $117,000. Finally, TIAA CREF Investment Management LLC purchased a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at approximately $120,000. Institutional investors and hedge funds own 21.40% of the company’s stock.

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Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The Company’s lead product, MGL-3196, is a Phase II-ready once-daily, oral, liver-directed selective thyroid hormone receptor-b (THR-b) agonist for the treatment of NASH, and heterozygous and homozygous familial hypercholesterolemia (FH).

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