Zacks Investment Research Upgrades Madrigal Pharmaceuticals (MDGL) to “Buy”

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.

TRADEMARK VIOLATION WARNING: This piece was originally reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this piece on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this piece can be viewed at https://www.thelincolnianonline.com/2018/01/14/zacks-investment-research-upgrades-madrigal-pharmaceuticals-mdgl-to-buy-updated-updated-updated.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).

Get a free copy of the Zacks research report on Madrigal Pharmaceuticals (MDGL)

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.

Leave a Reply