Madrigal Pharmaceuticals (MDGL) Rating Lowered to Hold at Zacks Investment Research

Madrigal Pharmaceuticals (NASDAQ:MDGL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Madrigal Pharmaceuticals, Inc. is engaged in developing small-molecule drugs addressing cardiovascular and metabolic diseases. Its products pipeline include MGL-3196, an orally administered liver-directed thyroid hormone receptor-ß agonist that is used for the treatment of NASH, dyslipidemia/hypercholesterolemia and high triglycerides; and MGL-3745, a thyroid hormone receptor-ß agonist which are in pre-clinical trial stage. Madrigal Pharmaceuticals Inc., formerly known as Synta Pharmaceuticals Corp., is based in Fort Washington, Pennsylvania. “

A number of other analysts have also recently weighed in on the stock. Roth Capital upped their price target on shares of Madrigal Pharmaceuticals from $82.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Evercore ISI upped their price target on shares of Madrigal Pharmaceuticals from $65.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, December 7th. JMP Securities upped their price target on shares of Madrigal Pharmaceuticals from $63.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th. Finally, HC Wainwright upped their price target on shares of Madrigal Pharmaceuticals from $54.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Madrigal Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $129.00.

Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) traded up $8.16 during midday trading on Tuesday, hitting $107.00. 253,562 shares of the stock traded hands, compared to its average volume of 285,117. Madrigal Pharmaceuticals has a one year low of $13.09 and a one year high of $109.97. The stock has a market cap of $1,500.00, a PE ratio of -43.50 and a beta of 0.80.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.11. analysts predict that Madrigal Pharmaceuticals will post -2.57 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in MDGL. Schwab Charles Investment Management Inc. purchased a new stake in Madrigal Pharmaceuticals during the 2nd quarter worth $225,000. Bank of New York Mellon Corp purchased a new position in Madrigal Pharmaceuticals in the 2nd quarter valued at about $179,000. TIAA CREF Investment Management LLC purchased a new position in Madrigal Pharmaceuticals in the 2nd quarter valued at about $120,000. New York State Common Retirement Fund purchased a new position in Madrigal Pharmaceuticals in the 2nd quarter valued at about $109,000. Finally, Citigroup Inc. purchased a new position in Madrigal Pharmaceuticals in the 2nd quarter valued at about $185,000. 19.10% of the stock is owned by hedge funds and other institutional investors.

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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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