Madrigal Pharmaceuticals (MDGL) PT Raised to $210.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price hoisted by stock analysts at Roth Capital from $170.00 to $210.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Roth Capital’s price target would indicate a potential upside of 65.32% from the stock’s current price.

A number of other equities research analysts have also commented on MDGL. JMP Securities upped their target price on Madrigal Pharmaceuticals from $40.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, October 13th. HC Wainwright started coverage on Madrigal Pharmaceuticals in a research report on Wednesday, November 29th. They issued a “buy” rating and a $54.00 target price on the stock. Evercore ISI upped their target price on Madrigal Pharmaceuticals from $65.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, December 7th. Zacks Investment Research upgraded Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, December 20th. Finally, BidaskClub upgraded Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $154.20.

Shares of Madrigal Pharmaceuticals (NASDAQ MDGL) traded down $4.50 during mid-day trading on Friday, hitting $127.03. The stock had a trading volume of 392,933 shares, compared to its average volume of 226,280. Madrigal Pharmaceuticals has a 1-year low of $13.09 and a 1-year high of $154.75. The stock has a market capitalization of $1,780.00, a price-to-earnings ratio of -51.64 and a beta of 1.19.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in Madrigal Pharmaceuticals by 64.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,553 shares of the biopharmaceutical company’s stock valued at $326,000 after buying an additional 1,399 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Madrigal Pharmaceuticals by 17.9% in the third quarter. Bank of New York Mellon Corp now owns 12,945 shares of the biopharmaceutical company’s stock valued at $582,000 after acquiring an additional 1,963 shares during the period. SG Americas Securities LLC acquired a new position in Madrigal Pharmaceuticals in the third quarter valued at approximately $100,000. Strs Ohio lifted its holdings in Madrigal Pharmaceuticals by 241.7% in the fourth quarter. Strs Ohio now owns 4,100 shares of the biopharmaceutical company’s stock valued at $376,000 after acquiring an additional 2,900 shares during the period. Finally, State of Wisconsin Investment Board acquired a new position in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $275,000. Hedge funds and other institutional investors own 20.53% of the company’s stock.

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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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