Madrigal Pharmaceuticals (MDGL) Upgraded by BidaskClub to Strong-Buy

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.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.11. equities research analysts forecast that Madrigal Pharmaceuticals will post -2.57 EPS for the current fiscal year.

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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