Several other equities analysts have also recently issued reports on MDGL. BidaskClub raised Madrigal Pharmaceuticals from a strong sell rating to a sell rating in a research note on Tuesday, October 30th. Citigroup began coverage on Madrigal Pharmaceuticals in a research note on Tuesday, September 4th. They set a buy rating and a $340.00 target price on the stock. Goldman Sachs Group cut Madrigal Pharmaceuticals from a buy rating to a neutral rating and set a $314.00 target price on the stock. in a research note on Monday, August 6th. Oppenheimer set a $300.00 target price on Madrigal Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, August 8th. Finally, Zacks Investment Research raised Madrigal Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $314.00.
Shares of MDGL traded down $7.10 during mid-day trading on Wednesday, hitting $184.49. 158,758 shares of the company’s stock traded hands, compared to its average volume of 212,828. Madrigal Pharmaceuticals has a 1 year low of $38.82 and a 1 year high of $325.98.
Hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new stake in Madrigal Pharmaceuticals in the second quarter worth $110,000. Meeder Asset Management Inc. grew its stake in Madrigal Pharmaceuticals by 296.4% in the second quarter. Meeder Asset Management Inc. now owns 436 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 326 shares during the period. SG Americas Securities LLC purchased a new stake in Madrigal Pharmaceuticals in the second quarter worth $124,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Madrigal Pharmaceuticals in the second quarter worth $140,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in Madrigal Pharmaceuticals in the third quarter worth $157,000. 53.06% of the stock is currently 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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