Madrigal Pharmaceuticals’ (MDGL) Outperform Rating Reiterated at Evercore ISI

Madrigal Pharmaceuticals (NASDAQ:MDGL)‘s stock had its “outperform” rating reiterated by stock analysts at Evercore ISI in a research report issued on Thursday, The Fly reports. They currently have a $175.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $140.00. Evercore ISI’s target price would suggest a potential upside of 21.75% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. HC Wainwright raised their price target on Madrigal Pharmaceuticals from $105.00 to $156.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. BidaskClub upgraded Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 20th. Roth Capital raised their price target on Madrigal Pharmaceuticals from $82.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, JMP Securities raised their price target on Madrigal Pharmaceuticals from $63.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Madrigal Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $146.20.

Madrigal Pharmaceuticals (NASDAQ MDGL) traded down $2.25 during mid-day trading on Thursday, reaching $143.74. The company’s stock had a trading volume of 263,179 shares, compared to its average volume of 196,414. The company has a market cap of $1,950.00, a PE ratio of -58.43 and a beta of 1.19. Madrigal Pharmaceuticals has a 1 year low of $13.09 and a 1 year high of $154.75.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.11. sell-side analysts predict that Madrigal Pharmaceuticals will post -2.57 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in shares of Madrigal Pharmaceuticals in the third quarter worth $100,000. Strs Ohio increased its position in shares of Madrigal Pharmaceuticals by 241.7% in the fourth quarter. Strs Ohio now owns 4,100 shares of the biopharmaceutical company’s stock worth $376,000 after purchasing an additional 2,900 shares during the period. New York State Common Retirement Fund bought a new position in shares of Madrigal Pharmaceuticals in the second quarter worth $109,000. JPMorgan Chase & Co. bought a new position in shares of Madrigal Pharmaceuticals in the third quarter worth $325,000. Finally, California State Teachers Retirement System bought a new position in shares of Madrigal Pharmaceuticals in the second quarter worth $117,000. Institutional investors own 20.53% of the company’s stock.

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Madrigal Pharmaceuticals Company Profile

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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