Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) Receives $178.63 Average PT from Brokerages

Shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) have been given a consensus rating of “Buy” by the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $178.63.

Several equities research analysts have weighed in on the company. Stifel Nicolaus set a $126.00 price target on Madrigal Pharmaceuticals and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Citigroup decreased their price objective on Madrigal Pharmaceuticals from $200.00 to $186.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. ValuEngine raised Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. BidaskClub upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, August 9th. Finally, B. Riley set a $134.00 target price on Madrigal Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 9th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its stake in shares of Madrigal Pharmaceuticals by 1,733.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,595 shares of the biopharmaceutical company’s stock worth $200,000 after acquiring an additional 1,508 shares in the last quarter. Bank of Montreal Can raised its holdings in Madrigal Pharmaceuticals by 1,366.3% in the 1st quarter. Bank of Montreal Can now owns 26,350 shares of the biopharmaceutical company’s stock worth $3,301,000 after purchasing an additional 24,553 shares during the period. Quantamental Technologies LLC raised its holdings in Madrigal Pharmaceuticals by 11.6% in the 1st quarter. Quantamental Technologies LLC now owns 893 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 93 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in Madrigal Pharmaceuticals by 31.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 41,450 shares of the biopharmaceutical company’s stock worth $5,192,000 after purchasing an additional 10,000 shares during the period. Finally, Pearl River Capital LLC boosted its position in Madrigal Pharmaceuticals by 199.6% during the first quarter. Pearl River Capital LLC now owns 758 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 505 shares in the last quarter. 61.78% of the stock is owned by institutional investors.

Shares of NASDAQ:MDGL traded down $0.89 during midday trading on Friday, reaching $102.66. The company’s stock had a trading volume of 292,299 shares, compared to its average volume of 199,619. The firm has a market capitalization of $1.60 billion, a PE ratio of -46.24 and a beta of 1.19. Madrigal Pharmaceuticals has a twelve month low of $82.39 and a twelve month high of $240.23. The stock has a fifty day moving average of $91.17 and a 200 day moving average of $106.99.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.06). During the same quarter in the prior year, the business posted ($0.45) EPS. Equities analysts predict that Madrigal Pharmaceuticals will post -5.05 EPS for the current year.

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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