Madrigal Pharmaceuticals (MDGL) Price Target Raised to $170.00 at Roth Capital
Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price target hoisted by analysts at Roth Capital from $82.00 to $170.00 in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Roth Capital’s target price suggests a potential upside of 108.41% from the company’s current price.
MDGL has been the topic of several other reports. HC Wainwright assumed coverage on Madrigal Pharmaceuticals in a research report on Wednesday, November 29th. They set a “buy” rating and a $54.00 price target on the stock. JMP Securities upped their price target on Madrigal Pharmaceuticals from $40.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, October 13th. Finally, Evercore ISI upped their price target on Madrigal Pharmaceuticals from $65.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Madrigal Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $135.00.
Madrigal Pharmaceuticals (NASDAQ MDGL) traded down $0.80 during trading on Monday, hitting $81.57. The stock had a trading volume of 276,600 shares, compared to its average volume of 60,692. Madrigal Pharmaceuticals has a 12 month low of $13.09 and a 12 month high of $101.00.
Hedge funds and other institutional investors have recently modified their holdings of the business. VHCP Management II LLC acquired a new stake in Madrigal Pharmaceuticals in the third quarter worth $1,349,000. Shikiar Asset Management Inc. increased its position in Madrigal Pharmaceuticals by 52.8% in the third quarter. Shikiar Asset Management Inc. now owns 23,141 shares of the biopharmaceutical company’s stock worth $1,041,000 after buying an additional 8,000 shares during the period. Victory Capital Management Inc. acquired a new stake in Madrigal Pharmaceuticals in the third quarter worth $2,274,000. Citigroup Inc. acquired a new stake in Madrigal Pharmaceuticals in the second quarter worth $185,000. Finally, New York State Common Retirement Fund acquired a new stake in Madrigal Pharmaceuticals in the second quarter worth $109,000. 21.40% of the stock is currently owned by hedge funds and other institutional investors.
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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