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.
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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