Madrigal Pharmaceuticals (MDGL) Downgraded by ValuEngine to Buy

ValuEngine downgraded shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) from a strong-buy rating to a buy rating in a research note issued to investors on Monday morning, ValuEngine reports.

A number of other research analysts also recently commented on the stock. Svb Leerink initiated coverage on shares of Madrigal Pharmaceuticals in a research report on Friday, February 22nd. They issued an outperform rating and a $165.00 target price on the stock. UBS Group initiated coverage on shares of Madrigal Pharmaceuticals in a research report on Wednesday, January 23rd. They issued a neutral rating and a $119.00 target price on the stock. HC Wainwright reaffirmed a buy rating and issued a $228.00 target price (down from $313.00) on shares of Madrigal Pharmaceuticals in a research report on Thursday, February 28th. Leerink Swann began coverage on shares of Madrigal Pharmaceuticals in a research report on Friday, February 22nd. They issued an outperform rating on the stock. Finally, BidaskClub raised shares of Madrigal Pharmaceuticals from a strong sell rating to a sell rating in a research report on Monday, February 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Madrigal Pharmaceuticals has an average rating of Buy and a consensus target price of $223.36.

NASDAQ MDGL opened at $117.73 on Monday. The firm has a market capitalization of $1.92 billion, a P/E ratio of -53.03 and a beta of 1.19. Madrigal Pharmaceuticals has a 12 month low of $91.56 and a 12 month high of $325.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.75). During the same quarter in the previous year, the company earned ($0.67) earnings per share. As a group, research analysts predict that Madrigal Pharmaceuticals will post -3.99 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc grew its position in Madrigal Pharmaceuticals by 52.7% during the 3rd quarter. Vanguard Group Inc now owns 706,318 shares of the biopharmaceutical company’s stock worth $151,243,000 after purchasing an additional 243,664 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 52.7% in the third quarter. Vanguard Group Inc. now owns 706,318 shares of the biopharmaceutical company’s stock valued at $151,243,000 after acquiring an additional 243,664 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 17.7% in the third quarter. BlackRock Inc. now owns 575,019 shares of the biopharmaceutical company’s stock valued at $123,130,000 after acquiring an additional 86,520 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 25.8% in the fourth quarter. Jennison Associates LLC now owns 281,071 shares of the biopharmaceutical company’s stock valued at $31,682,000 after acquiring an additional 57,700 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Madrigal Pharmaceuticals in the third quarter valued at about $20,300,000. 58.28% of the stock is currently owned by institutional investors.

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.

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