Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) has earned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $327.83.
MDGL has been the subject of a number of research reports. Zacks Investment Research lowered Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. Oppenheimer set a $300.00 price objective on Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 8th. BidaskClub lowered Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 14th. Citigroup initiated coverage on Madrigal Pharmaceuticals in a research report on Tuesday, September 4th. They issued a “buy” rating and a $340.00 price objective for the company. Finally, Cowen reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday.
Shares of MDGL stock opened at $184.49 on Friday. The stock has a market capitalization of $3.20 billion, a P/E ratio of -72.63 and a beta of 1.56. Madrigal Pharmaceuticals has a 12 month low of $38.82 and a 12 month high of $325.98.
Several institutional investors have recently bought and sold shares of MDGL. FNY Investment Advisers LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter worth about $110,000. Meeder Asset Management Inc. grew its position in shares of Madrigal Pharmaceuticals by 296.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 436 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 326 shares during the period. SG Americas Securities LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter worth about $124,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter worth about $140,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth about $157,000. Institutional investors own 53.06% of the company’s stock.
Madrigal Pharmaceuticals Company Profile
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.
Further Reading: Float
Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.