Zacks Investment Research lowered shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) from a buy rating to a hold rating in a report released on Tuesday.
According to Zacks, “Madrigal Pharmaceuticals, Inc. is engaged in developing small-molecule drugs addressing cardiovascular and metabolic diseases. Its products pipeline include MGL-3196, an orally administered liver-directed thyroid hormone receptor-ß agonist that is used for the treatment of NASH, dyslipidemia/hypercholesterolemia and high triglycerides; and MGL-3745, a thyroid hormone receptor-ß agonist which are in pre-clinical trial stage. Madrigal Pharmaceuticals Inc., formerly known as Synta Pharmaceuticals Corp., is based in Fort Washington, Pennsylvania. “
Other research analysts also recently issued reports about the stock. Evercore ISI raised their price objective on shares of Madrigal Pharmaceuticals from $65.00 to $140.00 and gave the stock an outperform rating in a research report on Thursday, December 7th. HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals from $54.00 to $105.00 and gave the company a buy rating in a report on Wednesday, December 6th. JMP Securities lifted their target price on shares of Madrigal Pharmaceuticals from $63.00 to $125.00 and gave the company an outperform rating in a report on Wednesday, December 6th. Finally, Roth Capital began coverage on shares of Madrigal Pharmaceuticals in a report on Thursday, October 19th. They issued a buy rating and a $62.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $129.00.
Shares of Madrigal Pharmaceuticals (NASDAQ MDGL) traded up $8.16 during trading on Tuesday, reaching $107.00. 253,562 shares of the company’s stock traded hands, compared to its average volume of 285,117. Madrigal Pharmaceuticals has a 52 week low of $13.09 and a 52 week high of $109.97. The stock has a market cap of $1,500.00, a P/E ratio of -43.50 and a beta of 0.80.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.79) by $0.11. analysts expect that Madrigal Pharmaceuticals will post -2.57 EPS for the current year.
Large investors have recently modified their holdings of the company. Victory Capital Management Inc. purchased a new stake in Madrigal Pharmaceuticals during the third quarter worth about $2,274,000. State Street Corp purchased a new stake in Madrigal Pharmaceuticals during the second quarter worth about $539,000. Northern Trust Corp boosted its holdings in Madrigal Pharmaceuticals by 151.2% during the second quarter. Northern Trust Corp now owns 50,069 shares of the biopharmaceutical company’s stock worth $814,000 after buying an additional 30,134 shares in the last quarter. VHCP Management II LLC purchased a new stake in Madrigal Pharmaceuticals during the third quarter worth about $1,349,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Madrigal Pharmaceuticals during the second quarter worth about $225,000. 19.10% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This news story was first published by Stock Observer and is the property of of Stock Observer. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.thestockobserver.com/2018/01/13/madrigal-pharmaceuticals-mdgl-downgraded-to-hold-at-zacks-investment-research.html.
About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The Company’s lead product, MGL-3196, is a Phase II-ready once-daily, oral, liver-directed selective thyroid hormone receptor-b (THR-b) agonist for the treatment of NASH, and heterozygous and homozygous familial hypercholesterolemia (FH).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.