Madrigal Pharmaceuticals (NASDAQ:MDGL) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.
Several other research analysts have also recently weighed in on MDGL. Evercore ISI started coverage on Madrigal Pharmaceuticals in a research report on Friday, September 22nd. They set an “outperform” rating and a $65.00 price objective for the company. JMP Securities upped their price objective on Madrigal Pharmaceuticals from $40.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 13th. Roth Capital started coverage on Madrigal Pharmaceuticals in a research report on Thursday, October 19th. They set a “buy” rating and a $62.00 price objective for the company. HC Wainwright started coverage on Madrigal Pharmaceuticals in a research report on Wednesday, November 29th. They set a “buy” rating and a $54.00 price objective for the company. Finally, Zacks Investment Research raised Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Madrigal Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $129.00.
Madrigal Pharmaceuticals (NASDAQ MDGL) opened at $124.59 on Friday. Madrigal Pharmaceuticals has a 52 week low of $13.09 and a 52 week high of $127.80.
Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of Madrigal Pharmaceuticals by 17.9% during the third quarter. Bank of New York Mellon Corp now owns 12,945 shares of the biopharmaceutical company’s stock worth $582,000 after buying an additional 1,963 shares during the period. SG Americas Securities LLC acquired a new position in shares of Madrigal Pharmaceuticals during the third quarter worth about $100,000. New York State Common Retirement Fund bought a new stake in Madrigal Pharmaceuticals during the second quarter worth about $109,000. JPMorgan Chase & Co. bought a new stake in Madrigal Pharmaceuticals during the third quarter worth about $325,000. Finally, California State Teachers Retirement System bought a new stake in Madrigal Pharmaceuticals during the second quarter worth about $117,000. 19.10% of the stock is owned by institutional investors.
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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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