Madrigal Pharmaceuticals Inc (MDGL) Receives Average Rating of “Hold” from Analysts

Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) has earned a consensus rating of “Hold” from the thirteen analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $327.83.

Several brokerages recently commented on MDGL. Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday. BidaskClub raised Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 30th. Oppenheimer set a $300.00 target price on Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Citigroup began coverage on Madrigal Pharmaceuticals in a research report on Tuesday, September 4th. They issued a “buy” rating and a $340.00 target price for the company. Finally, Zacks Investment Research cut Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th.

Shares of MDGL stock opened at $184.49 on Friday. The firm has a market capitalization of $3.20 billion, a P/E ratio of -72.63 and a beta of 1.56. Madrigal Pharmaceuticals has a one year low of $38.82 and a one year high of $325.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.03). On average, analysts predict that Madrigal Pharmaceuticals will post -2.19 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at $110,000. Meeder Asset Management Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 296.4% during the second quarter. Meeder Asset Management Inc. now owns 436 shares of the biopharmaceutical company’s stock valued at $122,000 after acquiring an additional 326 shares during the period. SG Americas Securities LLC bought a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at $124,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at $140,000. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Madrigal Pharmaceuticals during the third quarter valued at $157,000. 53.06% of the stock is owned by institutional investors.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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