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

Shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) have been assigned an average recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $147.75.

MDGL has been the subject of a number of recent research reports. HC Wainwright increased their target price on Madrigal Pharmaceuticals from $105.00 to $156.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Zacks Investment Research cut Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Roth Capital set a $82.00 price target on Madrigal Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, November 30th. JMP Securities raised their price target on Madrigal Pharmaceuticals from $40.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, October 13th. Finally, BidaskClub raised Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 20th.

Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) opened at $145.99 on Thursday. Madrigal Pharmaceuticals has a 52 week low of $13.09 and a 52 week high of $154.75. The firm has a market capitalization of $2,003.23, a P/E ratio of -57.48 and a beta of 1.19.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its holdings in Madrigal Pharmaceuticals by 303.9% during the 4th quarter. Victory Capital Management Inc. now owns 204,206 shares of the biopharmaceutical company’s stock valued at $18,744,000 after purchasing an additional 153,650 shares in the last quarter. Jennison Associates LLC acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $18,744,000. Northern Trust Corp increased its holdings in Madrigal Pharmaceuticals by 151.2% during the 2nd quarter. Northern Trust Corp now owns 50,069 shares of the biopharmaceutical company’s stock valued at $814,000 after purchasing an additional 30,134 shares in the last quarter. State Street Corp acquired a new stake in Madrigal Pharmaceuticals during the 2nd quarter valued at $539,000. Finally, VHCP Management II LLC acquired a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $1,349,000. 20.53% of the stock is owned by hedge funds and other institutional investors.

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About Madrigal Pharmaceuticals

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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