Citigroup Lowers Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target to $166.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective cut by Citigroup from $173.00 to $166.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup‘s price target suggests a potential upside of 44.78% from the stock’s current price.

A number of other research firms have also recently commented on MDGL. Stifel Nicolaus set a $126.00 price target on shares of Madrigal Pharmaceuticals and gave the stock a “hold” rating in a research note on Wednesday, August 7th. HC Wainwright decreased their price target on shares of Madrigal Pharmaceuticals from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Zacks Investment Research cut shares of Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, November 12th. Finally, B. Riley set a $134.00 target price on shares of Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $160.25.

Shares of NASDAQ MDGL opened at $114.66 on Monday. Madrigal Pharmaceuticals has a 12 month low of $82.31 and a 12 month high of $148.18. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -51.65 and a beta of 1.15. The business has a 50-day moving average of $97.95 and a 200-day moving average of $95.65.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.42) by $0.03. During the same quarter in the prior year, the firm earned ($0.56) earnings per share. As a group, analysts anticipate that Madrigal Pharmaceuticals will post -5.1 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new position in Madrigal Pharmaceuticals during the third quarter valued at approximately $41,000. Captrust Financial Advisors purchased a new position in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $163,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $215,000. Metropolitan Life Insurance Co NY lifted its holdings in shares of Madrigal Pharmaceuticals by 17.9% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 2,668 shares of the biopharmaceutical company’s stock worth $230,000 after acquiring an additional 406 shares during the last quarter. Finally, Stanley Laman Group Ltd. bought a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter worth approximately $256,000. 62.15% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Company Profile

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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