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.
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.
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).
Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.