Madrigal Pharmaceuticals Inc (MDGL) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) have been assigned a consensus recommendation of “Buy” from the seventeen brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $232.40.

A number of research firms recently issued reports on MDGL. Leerink Swann began coverage on Madrigal Pharmaceuticals in a research note on Friday, February 22nd. They set an “outperform” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $228.00 target price (down from $313.00) on shares of Madrigal Pharmaceuticals in a research note on Thursday, February 28th. ValuEngine downgraded Madrigal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday. Zacks Investment Research downgraded Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. Finally, UBS Group assumed coverage on Madrigal Pharmaceuticals in a research note on Wednesday, January 23rd. They issued a “neutral” rating and a $119.00 target price on the stock.

NASDAQ:MDGL traded down $0.25 during mid-day trading on Tuesday, reaching $117.48. 154,000 shares of the stock were exchanged, compared to its average volume of 228,727. The company has a market capitalization of $1.85 billion, a PE ratio of -52.92 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 released its quarterly earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.75). During the same period in the previous year, the company posted ($0.67) EPS. Equities research analysts predict that Madrigal Pharmaceuticals will post -3.99 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in MDGL. Pearl River Capital LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $29,000. First Mercantile Trust Co. lifted its holdings in shares of Madrigal Pharmaceuticals by 52.2% in the 4th quarter. First Mercantile Trust Co. now owns 624 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 214 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $90,000. Great West Life Assurance Co. Can lifted its holdings in shares of Madrigal Pharmaceuticals by 59.1% in the 4th quarter. Great West Life Assurance Co. Can now owns 985 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 366 shares during the period. Finally, Bessemer Group Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $116,000. 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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