Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Lowered to $215.00 at HC Wainwright

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price target decreased by HC Wainwright from $225.00 to $215.00 in a research note issued to investors on Thursday morning, Briefing.com Automated Import reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently issued reports on MDGL. Zacks Investment Research cut shares of Madrigal Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, October 9th. 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. BidaskClub raised shares of Madrigal Pharmaceuticals from a strong sell rating to a sell rating in a research report on Tuesday, October 29th. ValuEngine raised shares of Madrigal Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Tuesday, October 29th. Finally, Cowen reaffirmed a buy rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Madrigal Pharmaceuticals currently has a consensus rating of Buy and an average target price of $171.00.

Shares of MDGL stock traded up $7.04 during mid-day trading on Thursday, hitting $103.08. The stock had a trading volume of 196,900 shares, compared to its average volume of 192,555. Madrigal Pharmaceuticals has a fifty-two week low of $82.31 and a fifty-two week high of $201.96. The firm has a market cap of $1.48 billion, a PE ratio of -46.43 and a beta of 1.11. The company’s 50-day simple moving average is $90.63 and its 200-day simple moving average is $95.76.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.42) by $0.03. During the same quarter last year, the firm earned ($0.56) earnings per share. Research analysts expect that Madrigal Pharmaceuticals will post -5.03 earnings per share for the current fiscal year.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Hedge funds have recently made changes to their positions in the business. Capital Impact Advisors LLC lifted its position in Madrigal Pharmaceuticals by 32.9% during the second quarter. Capital Impact Advisors LLC now owns 18,148 shares of the biopharmaceutical company’s stock valued at $1,823,000 after buying an additional 4,489 shares in the last quarter. BlackRock Inc. lifted its position in Madrigal Pharmaceuticals by 7.6% during the second quarter. BlackRock Inc. now owns 562,032 shares of the biopharmaceutical company’s stock valued at $58,906,000 after buying an additional 39,492 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Madrigal Pharmaceuticals by 244.5% during the second quarter. Russell Investments Group Ltd. now owns 15,313 shares of the biopharmaceutical company’s stock valued at $1,602,000 after buying an additional 10,868 shares in the last quarter. University of Notre Dame DU Lac lifted its position in Madrigal Pharmaceuticals by 80.2% during the second quarter. University of Notre Dame DU Lac now owns 34,736 shares of the biopharmaceutical company’s stock valued at $3,641,000 after buying an additional 15,463 shares in the last quarter. Finally, Swiss National Bank lifted its position in Madrigal Pharmaceuticals by 12.1% during the second quarter. Swiss National Bank now owns 15,700 shares of the biopharmaceutical company’s stock valued at $1,646,000 after buying an additional 1,700 shares in the last quarter. 61.74% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Options Trading

Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

Leave a Reply

Your email address will not be published. Required fields are marked *

*