Madrigal Pharmaceuticals (MDGL) PT Lowered to $186.00 at Citigroup

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective trimmed by Citigroup from $200.00 to $186.00 in a research report report published on Wednesday, The Fly reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently commented on MDGL. Zacks Investment Research raised Madrigal Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, May 9th. ValuEngine downgraded Madrigal Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Monday, April 15th. BidaskClub downgraded Madrigal Pharmaceuticals from a sell rating to a strong sell rating in a research note on Thursday, April 18th. HC Wainwright reissued a buy rating on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 9th. Finally, UBS Group increased their price objective on Madrigal Pharmaceuticals to $143.00 and gave the stock a positive rating in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $222.09.

Shares of NASDAQ MDGL traded up $3.76 during mid-day trading on Wednesday, hitting $107.15. 77,653 shares of the company traded hands, compared to its average volume of 216,276. Madrigal Pharmaceuticals has a 1 year low of $91.56 and a 1 year high of $325.98. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -48.27 and a beta of 1.07.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.02. During the same period in the previous year, the company earned ($0.45) EPS. Research analysts anticipate that Madrigal Pharmaceuticals will post -4.12 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in MDGL. Vanguard Group Inc. raised its stake in shares of Madrigal Pharmaceuticals by 52.7% during the 3rd 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. Jennison Associates LLC raised its stake in shares of Madrigal Pharmaceuticals by 10.7% during the 1st quarter. Jennison Associates LLC now owns 311,020 shares of the biopharmaceutical company’s stock worth $38,958,000 after purchasing an additional 29,949 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth about $17,699,000. Goldman Sachs Group Inc. raised its stake in shares of Madrigal Pharmaceuticals by 39.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 122,088 shares of the biopharmaceutical company’s stock worth $15,292,000 after purchasing an additional 34,378 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Madrigal Pharmaceuticals by 10.0% during the 1st quarter. Geode Capital Management LLC now owns 99,573 shares of the biopharmaceutical company’s stock worth $12,472,000 after purchasing an additional 9,057 shares in the last quarter. 55.98% of the stock is owned by hedge funds and other institutional investors.

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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