Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price target hoisted by equities researchers at Evercore ISI from $65.00 to $140.00 in a research note issued to investors on Thursday. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Evercore ISI’s price objective suggests a potential upside of 60.59% from the stock’s current price.
MDGL has been the subject of several other research reports. HC Wainwright assumed coverage on Madrigal Pharmaceuticals in a research report on Wednesday, November 29th. They issued a “buy” rating and a $54.00 price target for the company. JMP Securities lifted their price target on Madrigal Pharmaceuticals from $40.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 13th. Finally, Roth Capital set a $82.00 price target on Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, November 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $113.00.
Madrigal Pharmaceuticals (NASDAQ MDGL) traded up $40.88 on Thursday, reaching $87.18. The company had a trading volume of 3,218,600 shares, compared to its average volume of 57,582. Madrigal Pharmaceuticals has a 12 month low of $13.09 and a 12 month high of $101.00.
Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC raised its stake in Madrigal Pharmaceuticals by 0.7% in the first quarter. Renaissance Technologies LLC now owns 57,875 shares of the biopharmaceutical company’s stock worth $891,000 after buying an additional 400 shares in the last quarter. Bank of New York Mellon Corp raised its stake 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 worth $582,000 after buying an additional 1,963 shares in the last quarter. SG Americas Securities LLC bought a new position in Madrigal Pharmaceuticals in the third quarter worth approximately $100,000. New York State Common Retirement Fund bought a new position in Madrigal Pharmaceuticals in the second quarter worth approximately $109,000. Finally, JPMorgan Chase & Co. bought a new position in Madrigal Pharmaceuticals in the third quarter worth approximately $325,000. Institutional investors and hedge funds own 21.40% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Evercore ISI Boosts Madrigal Pharmaceuticals (MDGL) Price Target to $140.00” was posted by Ticker Report and is owned by of Ticker Report. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://www.tickerreport.com/banking-finance/3079750/evercore-isi-boosts-madrigal-pharmaceuticals-mdgl-price-target-to-140-00.html.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.