Madrigal Pharmaceuticals (NASDAQ:MDGL) Raised to “Strong-Buy” at ValuEngine

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

MDGL has been the subject of a number of other research reports. Stifel Nicolaus set a $126.00 price target on Madrigal Pharmaceuticals and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Cowen reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Thursday, August 8th. Citigroup dropped their price objective on Madrigal Pharmaceuticals from $186.00 to $173.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. BidaskClub cut Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $225.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Wednesday, July 3rd. Three research analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $172.11.

NASDAQ:MDGL opened at $99.18 on Tuesday. Madrigal Pharmaceuticals has a twelve month low of $82.31 and a twelve month high of $219.61. The business has a 50 day moving average price of $91.16 and a two-hundred day moving average price of $97.01. The company has a market cap of $1.37 billion, a P/E ratio of -44.68 and a beta of 1.09.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.06). During the same period in the previous year, the business earned ($0.45) earnings per share. As a group, research analysts forecast that Madrigal Pharmaceuticals will post -5.03 EPS for the current year.

Several institutional investors have recently made changes to their positions in MDGL. Captrust Financial Advisors bought a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter worth approximately $163,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at $215,000. Stanley Laman Group Ltd. bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at $256,000. Jane Street Group LLC raised its stake in Madrigal Pharmaceuticals by 7.8% in the 2nd quarter. Jane Street Group LLC now owns 2,523 shares of the biopharmaceutical company’s stock valued at $265,000 after acquiring an additional 183 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in Madrigal Pharmaceuticals by 82.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,716 shares of the biopharmaceutical company’s stock valued at $285,000 after acquiring an additional 1,228 shares during the period. Institutional investors own 61.79% of the company’s stock.

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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