Madrigal Pharmaceuticals (MDGL) Downgraded by ValuEngine to Buy

Madrigal Pharmaceuticals (NASDAQ:MDGL) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday, ValuEngine reports.

A number of other research analysts have also weighed in on MDGL. Zacks Investment Research raised Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a report on Wednesday, January 9th. UBS Group increased their price objective on Madrigal Pharmaceuticals to $143.00 and gave the company a “positive” rating in a report on Thursday, March 28th. BidaskClub raised Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Monday, February 25th. Leerink Swann assumed coverage on Madrigal Pharmaceuticals in a report on Friday, February 22nd. They issued an “outperform” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $228.00 price objective (down from $313.00) on shares of Madrigal Pharmaceuticals in a report on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Madrigal Pharmaceuticals presently has an average rating of “Buy” and an average price target of $223.36.

Shares of MDGL stock traded down $9.10 during mid-day trading on Monday, reaching $117.73. The stock had a trading volume of 233,402 shares, compared to its average volume of 229,766. The firm has a market capitalization of $1.92 billion, a PE ratio of -53.03 and a beta of 1.19. Madrigal Pharmaceuticals has a 1-year low of $91.56 and a 1-year high of $325.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.75). During the same period last year, the business earned ($0.67) earnings per share. On average, equities analysts expect that Madrigal Pharmaceuticals will post -3.99 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of MDGL. Vanguard Group Inc boosted its position in Madrigal Pharmaceuticals by 52.7% during the third quarter. Vanguard Group Inc now owns 706,318 shares of the biopharmaceutical company’s stock worth $151,243,000 after purchasing an additional 243,664 shares in the last quarter. Vanguard Group Inc. boosted its position in Madrigal Pharmaceuticals by 52.7% during the third quarter. Vanguard Group Inc. now owns 706,318 shares of the biopharmaceutical company’s stock worth $151,243,000 after purchasing an additional 243,664 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Madrigal Pharmaceuticals during the third quarter worth approximately $20,300,000. BlackRock Inc. boosted its position in Madrigal Pharmaceuticals by 17.7% during the third quarter. BlackRock Inc. now owns 575,019 shares of the biopharmaceutical company’s stock worth $123,130,000 after purchasing an additional 86,520 shares in the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new position in Madrigal Pharmaceuticals during the fourth quarter worth approximately $9,454,000. Institutional investors own 58.28% of the company’s stock.

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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