Madrigal Pharmaceuticals (MDGL) PT Raised to $125.00
Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective lifted by equities research analysts at JMP Securities from $63.00 to $125.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ price target points to a potential upside of 169.98% from the stock’s current price.
A number of other research firms also recently weighed in on MDGL. Roth Capital started coverage on shares of Madrigal Pharmaceuticals in a research note on Thursday, October 19th. They set a “buy” rating and a $62.00 price target on the stock. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $54.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Evercore ISI started coverage on shares of Madrigal Pharmaceuticals in a research note on Friday, September 22nd. They set an “outperform” rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Madrigal Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $94.25.
Madrigal Pharmaceuticals (NASDAQ:MDGL) traded down $1.68 on Wednesday, reaching $46.30. 86,700 shares of the company’s stock were exchanged, compared to its average volume of 44,074. Madrigal Pharmaceuticals has a 1 year low of $13.09 and a 1 year high of $53.00.
Several large investors have recently modified their holdings of MDGL. Renaissance Technologies LLC boosted its stake 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 purchasing an additional 400 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter valued at $321,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at $225,000. Bank of New York Mellon Corp acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at $179,000. Finally, Shikiar Asset Management Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at $246,000. Institutional investors own 21.40% of the company’s stock.
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About Madrigal Pharmaceuticals
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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