Madrigal Pharmaceuticals Inc (MDGL) Receives $302.43 Consensus Target Price from Brokerages

Shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) have been assigned a consensus rating of “Hold” from the thirteen brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $302.43.

A number of brokerages recently issued reports on MDGL. BidaskClub upgraded shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 12th. Oppenheimer set a $200.00 price target on shares of Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday. Raymond James lowered shares of Madrigal Pharmaceuticals from a “market perform” rating to an “underperform” rating in a research note on Monday, November 19th. Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $264.00 price target for the company in a research note on Saturday, August 11th. Finally, Citigroup began coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, September 4th. They issued a “buy” rating and a $340.00 price target for the company.

NASDAQ MDGL opened at $113.04 on Wednesday. Madrigal Pharmaceuticals has a 52 week low of $77.00 and a 52 week high of $325.98. The firm has a market cap of $1.86 billion, a PE ratio of -44.50 and a beta of 1.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). Research analysts anticipate that Madrigal Pharmaceuticals will post -2.19 EPS for the current year.

In other Madrigal Pharmaceuticals news, Director Fred B. Craves bought 2,000 shares of the stock in a transaction on Monday, November 19th. The stock was purchased at an average price of $124.69 per share, for a total transaction of $249,380.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paul A. Friedman bought 4,000 shares of the stock in a transaction on Monday, November 19th. The shares were acquired at an average price of $124.00 per share, with a total value of $496,000.00. The disclosure for this purchase can be found here. 56.70% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Madrigal Pharmaceuticals during the 2nd quarter worth about $124,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Madrigal Pharmaceuticals during the 2nd quarter worth about $140,000. Public Employees Retirement Association of Colorado acquired a new stake in Madrigal Pharmaceuticals during the 3rd quarter worth about $157,000. Stevens Capital Management LP acquired a new stake in Madrigal Pharmaceuticals during the 2nd quarter worth about $231,000. Finally, Amalgamated Bank acquired a new stake in Madrigal Pharmaceuticals during the 2nd quarter worth about $248,000. Hedge funds and other institutional investors own 55.54% of the company’s stock.

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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