Madrigal Pharmaceuticals (NASDAQ:MDGL) Given New $215.00 Price Target at HC Wainwright

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Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price target decreased by investment analysts at HC Wainwright from $225.00 to $215.00 in a report released on Thursday, Briefing.com Automated Import reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 108.58% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 29th. Zacks Investment Research downgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. ValuEngine upgraded shares of Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday. Finally, B. Riley set a $134.00 price objective on shares of Madrigal Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Madrigal Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $171.00.

NASDAQ:MDGL traded up $7.04 during trading hours on Thursday, reaching $103.08. 196,900 shares of the stock were exchanged, compared to its average volume of 192,555. Madrigal Pharmaceuticals has a twelve month low of $82.31 and a twelve month high of $201.96. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -46.43 and a beta of 1.11. The business has a 50-day moving average of $90.63 and a two-hundred day moving average of $95.76.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.03. During the same quarter last year, the company posted ($0.56) earnings per share. As a group, analysts forecast that Madrigal Pharmaceuticals will post -5.03 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Madrigal Pharmaceuticals by 7.6% during the second quarter. BlackRock Inc. now owns 562,032 shares of the biopharmaceutical company’s stock worth $58,906,000 after buying an additional 39,492 shares during the period. Rock Springs Capital Management LP boosted its stake in shares of Madrigal Pharmaceuticals by 0.6% during the second quarter. Rock Springs Capital Management LP now owns 256,900 shares of the biopharmaceutical company’s stock worth $26,926,000 after buying an additional 1,650 shares during the period. Northern Trust Corp boosted its stake in shares of Madrigal Pharmaceuticals by 2.2% during the second quarter. Northern Trust Corp now owns 98,407 shares of the biopharmaceutical company’s stock worth $10,314,000 after buying an additional 2,136 shares during the period. Invesco Ltd. boosted its stake in shares of Madrigal Pharmaceuticals by 159.2% during the second quarter. Invesco Ltd. now owns 66,896 shares of the biopharmaceutical company’s stock worth $7,011,000 after buying an additional 41,083 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of Madrigal Pharmaceuticals by 178.8% during the second quarter. Point72 Asset Management L.P. now owns 57,900 shares of the biopharmaceutical company’s stock worth $6,068,000 after buying an additional 37,133 shares during the period. Institutional investors and hedge funds own 61.74% 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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