Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective increased by JMP Securities from $63.00 to $125.00 in a report released on Wednesday. They currently have an outperform rating on the biopharmaceutical company’s stock.
Several other research firms have also issued reports on MDGL. HC Wainwright assumed coverage on Madrigal Pharmaceuticals in a report on Wednesday, November 29th. They set a buy rating and a $54.00 price target for the company. Evercore ISI assumed coverage on Madrigal Pharmaceuticals in a report on Friday, September 22nd. They set an outperform rating and a $65.00 price target for the company. Finally, Roth Capital set a $82.00 price target on Madrigal Pharmaceuticals and gave the company a buy rating in a report on Thursday, November 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Madrigal Pharmaceuticals currently has a consensus rating of Buy and an average price target of $113.00.
Madrigal Pharmaceuticals (NASDAQ:MDGL) traded up $40.88 during mid-day trading on Wednesday, hitting $87.18. The stock had a trading volume of 3,218,600 shares, compared to its average volume of 57,582. Madrigal Pharmaceuticals has a 52-week low of $13.09 and a 52-week high of $101.00.
A number of hedge funds have recently modified their holdings of MDGL. Victory Capital Management Inc. purchased a new stake in Madrigal Pharmaceuticals during the third quarter valued at approximately $2,274,000. State Street Corp purchased a new stake in shares of Madrigal Pharmaceuticals in the second quarter worth approximately $539,000. Northern Trust Corp raised its holdings in shares of Madrigal Pharmaceuticals by 151.2% in the second quarter. Northern Trust Corp now owns 50,069 shares of the biopharmaceutical company’s stock worth $814,000 after buying an additional 30,134 shares during the period. VHCP Management II LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth approximately $1,349,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth approximately $321,000. Institutional investors and hedge funds own 21.40% of the company’s stock.
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About Madrigal Pharmaceuticals
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).
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