Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) Receives $177.88 Average Target Price from Analysts

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Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) has received a consensus rating of “Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $178.63.

MDGL has been the subject of several research analyst reports. Citigroup lowered their price objective on shares of Madrigal Pharmaceuticals from $200.00 to $186.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. B. Riley set a $134.00 price objective on shares of Madrigal Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 9th. Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 21st. ValuEngine upgraded shares of Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $225.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, July 3rd.

Several large investors have recently made changes to their positions in MDGL. Pearl River Capital LLC grew its stake in shares of Madrigal Pharmaceuticals by 199.6% in the first quarter. Pearl River Capital LLC now owns 758 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 505 shares during the last quarter. First Mercantile Trust Co. grew its stake in shares of Madrigal Pharmaceuticals by 26.4% in the first quarter. First Mercantile Trust Co. now owns 789 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 165 shares during the last quarter. Quantamental Technologies LLC grew its stake in shares of Madrigal Pharmaceuticals by 11.6% in the first quarter. Quantamental Technologies LLC now owns 893 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 93 shares during the last quarter. Resources Investment Advisors Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth $121,000. Finally, Howe & Rusling Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth $155,000. Institutional investors own 60.59% of the company’s stock.

Shares of MDGL opened at $90.14 on Monday. Madrigal Pharmaceuticals has a one year low of $82.39 and a one year high of $255.68. The firm has a market capitalization of $1.39 billion, a P/E ratio of -40.60 and a beta of 1.18. The company’s 50 day moving average price is $94.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.06). During the same quarter last year, the business posted ($0.45) EPS. As a group, research analysts predict that Madrigal Pharmaceuticals will post -5.04 earnings per share for the current year.

Madrigal Pharmaceuticals Company Profile

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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