Madrigal Pharmaceuticals’ (MDGL) “Buy” Rating Reaffirmed at Cowen

Cowen reaffirmed their buy rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research report report published on Thursday, AnalystRatings.com reports.

MDGL has been the topic of a number of other research reports. ValuEngine raised shares of Madrigal Pharmaceuticals from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Citigroup cut their price target on Madrigal Pharmaceuticals from $200.00 to $186.00 and set a buy rating on the stock in a report on Wednesday, May 15th. Zacks Investment Research raised Madrigal Pharmaceuticals from a sell rating to a hold rating in a report on Friday, June 21st. Stifel Nicolaus started coverage on Madrigal Pharmaceuticals in a report on Monday, June 24th. They set a hold rating and a $126.00 price target on the stock. Finally, HC Wainwright reaffirmed a buy rating and set a $225.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $172.89.

NASDAQ MDGL traded down $0.80 during trading hours on Thursday, reaching $89.66. The company’s stock had a trading volume of 115,144 shares, compared to its average volume of 196,530. The company has a 50-day moving average of $95.92. Madrigal Pharmaceuticals has a 52 week low of $82.39 and a 52 week high of $255.68. The company has a market cap of $1.39 billion, a PE ratio of -40.39 and a beta of 1.18.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.22) by ($0.06). During the same period in the previous year, the company earned ($0.45) EPS. On average, equities research analysts forecast that Madrigal Pharmaceuticals will post -4.53 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantamental Technologies LLC increased its stake in shares of Madrigal Pharmaceuticals by 11.6% during the first quarter. Quantamental Technologies LLC now owns 893 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 93 shares during the period. Legal & General Group Plc increased its stake in shares of Madrigal Pharmaceuticals by 5.4% during the fourth quarter. Legal & General Group Plc now owns 2,673 shares of the biopharmaceutical company’s stock valued at $301,000 after acquiring an additional 138 shares during the period. First Mercantile Trust Co. increased its stake in shares of Madrigal Pharmaceuticals by 26.4% during the first quarter. First Mercantile Trust Co. now owns 789 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 165 shares during the period. Altshuler Shaham Ltd increased its stake in shares of Madrigal Pharmaceuticals by 5.1% during the second quarter. Altshuler Shaham Ltd now owns 7,369 shares of the biopharmaceutical company’s stock valued at $772,000 after acquiring an additional 356 shares during the period. Finally, Pearl River Capital LLC increased its stake in shares of Madrigal Pharmaceuticals by 199.6% during the first quarter. Pearl River Capital LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 505 shares during the period. Institutional investors and hedge funds own 60.98% of the company’s stock.

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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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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