Madrigal Pharmaceuticals, Inc. (MDGL) PT Raised to $63.00
Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) had its price target boosted by investment analysts at JMP Securities from $40.00 to $63.00 in a report issued on Friday, The Fly reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ price objective would suggest a potential upside of 25.72% from the stock’s previous close.
Separately, Evercore ISI began coverage on shares of Madrigal Pharmaceuticals in a report on Friday, September 22nd. They set an “outperform” rating and a $65.00 price objective for the company.
Shares of Madrigal Pharmaceuticals (NASDAQ MDGL) opened at 50.11 on Friday. The stock’s market cap is $626.12 million. The firm’s 50-day moving average price is $29.01 and its 200-day moving average price is $19.00. Madrigal Pharmaceuticals has a 52-week low of $13.09 and a 52-week high of $51.53.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, August 10th. The biopharmaceutical company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.09). Equities analysts predict that Madrigal Pharmaceuticals will post ($2.67) EPS for the current year.
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In other Madrigal Pharmaceuticals news, Director Richard S. Levy purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average price of $16.12 per share, with a total value of $32,240.00. Following the acquisition, the director now owns 7,200 shares in the company, valued at $116,064. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard S. Levy purchased 3,550 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average cost of $15.88 per share, with a total value of $56,374.00. Following the acquisition, the director now owns 900 shares in the company, valued at approximately $14,292. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 9,100 shares of company stock valued at $145,840. 66.40% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. Rock Springs Capital Management LP bought a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at about $799,000. Renaissance Technologies LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 0.7% in the 1st quarter. Renaissance Technologies LLC now owns 57,875 shares of the biopharmaceutical company’s stock valued at $891,000 after acquiring an additional 400 shares during the last quarter. Baker BROS. Advisors LP bought a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at about $732,000. Northern Trust Corp lifted its holdings in shares of Madrigal Pharmaceuticals by 151.2% in the 2nd quarter. Northern Trust Corp now owns 50,069 shares of the biopharmaceutical company’s stock valued at $814,000 after acquiring an additional 30,134 shares during the last quarter. Finally, State Street Corp bought a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at about $539,000. 16.39% of the stock is owned by hedge funds and other institutional investors.
Madrigal Pharmaceuticals Company Profile
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).
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