Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) from a hold rating to a buy rating in a research report report published on Wednesday, December 20th. Zacks Investment Research currently has $94.00 price objective on the biopharmaceutical company’s stock.
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 equities research analysts have also recently issued reports about the company. Evercore ISI raised their price target on Madrigal Pharmaceuticals from $65.00 to $140.00 and gave the company an outperform rating in a report on Thursday, December 7th. HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $54.00 to $105.00 and gave the stock a buy rating in a report on Wednesday, December 6th. JMP Securities lifted their target price on Madrigal Pharmaceuticals from $63.00 to $125.00 and gave the stock an outperform rating in a report on Wednesday, December 6th. Finally, Roth Capital assumed coverage on Madrigal Pharmaceuticals in a research report on Thursday, October 19th. They issued a buy rating and a $62.00 price target for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Madrigal Pharmaceuticals presently has a consensus rating of Buy and an average target price of $129.00.
Madrigal Pharmaceuticals (NASDAQ MDGL) opened at $107.00 on Wednesday. The stock has a market capitalization of $1,500.00, a price-to-earnings ratio of -43.50 and a beta of 0.80. Madrigal Pharmaceuticals has a 52 week low of $13.09 and a 52 week high of $109.97.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.68) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.79) by $0.11. analysts forecast that Madrigal Pharmaceuticals will post -2.57 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in MDGL. SG Americas Securities LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $100,000. New York State Common Retirement Fund bought a new position in Madrigal Pharmaceuticals in the second quarter worth approximately $109,000. California State Teachers Retirement System bought a new position in Madrigal Pharmaceuticals in the second quarter worth approximately $117,000. TIAA CREF Investment Management LLC bought a new position in Madrigal Pharmaceuticals in the second quarter worth approximately $120,000. Finally, Bank of New York Mellon Corp bought a new position in Madrigal Pharmaceuticals in the second quarter worth approximately $179,000. Hedge funds and other institutional investors own 19.10% of the company’s stock.
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).
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