Madrigal Pharmaceuticals (MDGL) Price Target Raised to $140.00
Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price boosted by equities researchers at Evercore ISI from $65.00 to $140.00 in a research note issued to investors on Thursday, The Fly reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Evercore ISI’s target price would suggest a potential upside of 60.59% from the stock’s current price.
Other research analysts also recently issued reports about the company. HC Wainwright boosted their price objective on Madrigal Pharmaceuticals from $54.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday. JMP Securities upped their price target on Madrigal Pharmaceuticals from $63.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Roth Capital set a $82.00 price target on Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $113.00.
Shares of Madrigal Pharmaceuticals (MDGL) traded up $40.88 during trading hours on Thursday, hitting $87.18. The stock had a trading volume of 3,218,600 shares, compared to its average volume of 57,582. Madrigal Pharmaceuticals has a 12 month low of $13.09 and a 12 month high of $101.00.
Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Madrigal Pharmaceuticals during the 3rd quarter worth approximately $100,000. New York State Common Retirement Fund acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $109,000. JPMorgan Chase & Co. acquired a new position in Madrigal Pharmaceuticals during the 3rd quarter worth approximately $325,000. California State Teachers Retirement System acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $117,000. Finally, TIAA CREF Investment Management LLC acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $120,000. 21.40% of the stock is currently owned by institutional investors and hedge funds.
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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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