Madrigal Pharmaceuticals (MDGL) Rating Increased to Strong-Buy at BidaskClub

Madrigal Pharmaceuticals (NASDAQ:MDGL) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Other analysts have also recently issued research reports about the company. Evercore ISI raised their target price on Madrigal Pharmaceuticals from $65.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, December 7th. HC Wainwright raised their target price on Madrigal Pharmaceuticals from $54.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Roth Capital began coverage on Madrigal Pharmaceuticals in a research report on Thursday, October 19th. They issued a “buy” rating and a $62.00 target price for the company. JMP Securities raised their target price on Madrigal Pharmaceuticals from $63.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th. Finally, Zacks Investment Research cut Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Madrigal Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $129.00.

Shares of Madrigal Pharmaceuticals (NASDAQ MDGL) opened at $124.59 on Friday. The firm has a market capitalization of $1,740.00, a price-to-earnings ratio of -50.65 and a beta of 0.80. Madrigal Pharmaceuticals has a one year low of $13.09 and a one year high of $127.80.

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 consensus estimate of ($0.79) by $0.11. sell-side analysts anticipate that Madrigal Pharmaceuticals will post -2.57 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. VHCP Management II LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth $1,349,000. JPMorgan Chase & Co. acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth $325,000. SG Americas Securities LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth $100,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth $353,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Madrigal Pharmaceuticals by 17.9% during the third quarter. Bank of New York Mellon Corp now owns 12,945 shares of the biopharmaceutical company’s stock worth $582,000 after acquiring an additional 1,963 shares in the last quarter. 19.10% of the stock is 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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