Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Lowered to $215.00 at HC Wainwright

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective cut by HC Wainwright from $225.00 to $215.00 in a research report report published on Thursday morning, Briefing.com Automated Import reports. They currently have a buy rating on the biopharmaceutical company’s stock.

MDGL has been the topic of a number of other reports. Stifel Nicolaus set a $126.00 price target on shares of Madrigal Pharmaceuticals and gave the company a hold rating in a research note on Wednesday, August 7th. Zacks Investment Research downgraded shares of Madrigal Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, October 9th. B. Riley set a $134.00 target price on shares of Madrigal Pharmaceuticals and gave the stock a buy rating in a research note on Friday, August 9th. Cowen reaffirmed a buy rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday. Finally, Citigroup cut their target price on shares of Madrigal Pharmaceuticals from $186.00 to $173.00 and set a buy rating on the stock in a research note on Tuesday, September 17th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $171.00.

Shares of MDGL stock traded up $7.04 on Thursday, reaching $103.08. 196,900 shares of the company were exchanged, compared to its average volume of 192,555. The business has a 50-day moving average price of $90.63 and a 200 day moving average price of $95.76. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -46.43 and a beta of 1.11. Madrigal Pharmaceuticals has a 1 year low of $82.31 and a 1 year high of $201.96.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.03. During the same quarter in the previous year, the company earned ($0.56) earnings per share. Analysts anticipate that Madrigal Pharmaceuticals will post -5.03 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. increased its position in shares of Madrigal Pharmaceuticals by 159.2% in the 2nd quarter. Invesco Ltd. now owns 66,896 shares of the biopharmaceutical company’s stock valued at $7,011,000 after purchasing an additional 41,083 shares during the last quarter. BlackRock Inc. increased its position in shares of Madrigal Pharmaceuticals by 7.6% in the 2nd quarter. BlackRock Inc. now owns 562,032 shares of the biopharmaceutical company’s stock valued at $58,906,000 after purchasing an additional 39,492 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Madrigal Pharmaceuticals by 178.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 57,900 shares of the biopharmaceutical company’s stock valued at $6,068,000 after purchasing an additional 37,133 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at approximately $3,412,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at approximately $2,906,000. 61.74% of the stock is currently owned by hedge funds and other 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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