Roth Capital Increases Madrigal Pharmaceuticals (MDGL) Price Target to $170.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price hoisted by stock analysts at Roth Capital from $82.00 to $170.00 in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Roth Capital’s price objective suggests a potential upside of 110.45% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Evercore ISI initiated coverage on shares of Madrigal Pharmaceuticals in a report on Friday, September 22nd. They issued an “outperform” rating and a $65.00 price objective on the stock. JMP Securities increased their price objective on shares of Madrigal Pharmaceuticals from $40.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, October 13th. Finally, HC Wainwright initiated coverage on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 29th. They issued a “buy” rating and a $54.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $135.00.

Shares of Madrigal Pharmaceuticals (MDGL) opened at $80.78 on Monday. Madrigal Pharmaceuticals has a twelve month low of $13.09 and a twelve month high of $101.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.79) by $0.11. sell-side analysts anticipate that Madrigal Pharmaceuticals will post -2.57 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter worth about $100,000. New York State Common Retirement Fund acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at about $109,000. California State Teachers Retirement System acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at about $117,000. TIAA CREF Investment Management LLC acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at about $120,000. Finally, Bank of New York Mellon Corp acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at about $179,000. 21.40% of the stock is currently owned by institutional investors and hedge funds.

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Madrigal Pharmaceuticals Company Profile

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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