Madrigal Pharmaceuticals (NASDAQ:MDGL) PT Lowered to $170.00 at Oppenheimer

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Rating) had its target price cut by Oppenheimer from $180.00 to $170.00 in a research report sent to investors on Tuesday, The Fly reports. Oppenheimer also issued estimates for Madrigal Pharmaceuticals’ Q2 2022 earnings at ($3.84) EPS, Q3 2022 earnings at ($3.95) EPS, Q4 2022 earnings at ($4.63) EPS, FY2022 earnings at ($15.78) EPS, FY2023 earnings at ($16.72) EPS, FY2024 earnings at ($19.03) EPS, FY2025 earnings at ($4.07) EPS and FY2026 earnings at $9.53 EPS.

Several other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Madrigal Pharmaceuticals from a hold rating to a sell rating in a research report on Thursday, April 28th. JMP Securities restated a buy rating and set a $220.00 price target on shares of Madrigal Pharmaceuticals in a research report on Monday, February 7th. Finally, StockNews.com began coverage on shares of Madrigal Pharmaceuticals in a research report on Thursday, March 31st. They set a sell rating for the company. Two investment analysts have rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of Buy and an average target price of $162.78.

MDGL stock opened at $65.73 on Tuesday. Madrigal Pharmaceuticals has a 1-year low of $52.33 and a 1-year high of $137.78. The firm has a fifty day moving average price of $84.19 and a two-hundred day moving average price of $82.24. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -4.49 and a beta of 1.28.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Rating) last released its earnings results on Monday, May 9th. The biopharmaceutical company reported ($3.36) earnings per share for the quarter, beating the consensus estimate of ($3.75) by $0.39. During the same quarter in the prior year, the business posted ($3.32) EPS. As a group, equities research analysts predict that Madrigal Pharmaceuticals will post -14.71 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in MDGL. Deutsche Bank AG grew its position in Madrigal Pharmaceuticals by 3.6% in the 3rd quarter. Deutsche Bank AG now owns 20,845 shares of the biopharmaceutical company’s stock valued at $1,664,000 after buying an additional 718 shares in the last quarter. Advisor Group Holdings Inc. grew its position in Madrigal Pharmaceuticals by 183.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 866 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 560 shares in the last quarter. Swiss National Bank grew its position in Madrigal Pharmaceuticals by 3.8% in the 3rd quarter. Swiss National Bank now owns 22,000 shares of the biopharmaceutical company’s stock valued at $1,755,000 after buying an additional 800 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Madrigal Pharmaceuticals by 3.9% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 7,957 shares of the biopharmaceutical company’s stock valued at $635,000 after acquiring an additional 300 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Madrigal Pharmaceuticals by 0.7% in the 3rd quarter. BlackRock Inc. now owns 915,789 shares of the biopharmaceutical company’s stock valued at $73,070,000 after acquiring an additional 5,972 shares during the last quarter. Hedge funds and other institutional investors own 81.83% of the company’s stock.

Madrigal Pharmaceuticals Company Profile (Get Rating)

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. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-ß agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis.

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