Madrigal Pharmaceuticals (MDGL) Releases Earnings Results

Madrigal Pharmaceuticals (NASDAQ:MDGL) posted its earnings results on Tuesday. The biopharmaceutical company reported ($0.67) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.70) by $0.03, Bloomberg Earnings reports.

Shares of Madrigal Pharmaceuticals (NASDAQ MDGL) opened at $127.35 on Wednesday. Madrigal Pharmaceuticals has a fifty-two week low of $13.09 and a fifty-two week high of $154.75.

A hedge fund recently bought a new stake in Madrigal Pharmaceuticals stock. California State Teachers Retirement System acquired a new position in Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,200 shares of the biopharmaceutical company’s stock, valued at approximately $117,000. California State Teachers Retirement System owned 0.06% of Madrigal Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 36.54% of the company’s stock.

MDGL has been the subject of a number of research analyst reports. Zacks Investment Research lowered Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Roth Capital lifted their target price on Madrigal Pharmaceuticals from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, February 9th. JMP Securities lifted their target price on Madrigal Pharmaceuticals from $63.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 6th. Evercore ISI reissued an “outperform” rating and issued a $175.00 target price (up previously from $140.00) on shares of Madrigal Pharmaceuticals in a report on Thursday, February 8th. Finally, HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $54.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Madrigal Pharmaceuticals has a consensus rating of “Buy” and an average price target of $154.20.

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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).

Earnings History for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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