Zacks Investment Research Lowers Madrigal Pharmaceuticals (MDGL) to Hold

Madrigal Pharmaceuticals (NASDAQ:MDGL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, January 9th.

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. “

Several other analysts have also recently issued reports on MDGL. Roth Capital increased their target price on shares of Madrigal Pharmaceuticals from $82.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Evercore ISI assumed coverage on shares of Madrigal Pharmaceuticals in a report on Friday, September 22nd. They issued an “outperform” rating and a $65.00 price target on the stock. HC Wainwright increased their price target on shares of Madrigal Pharmaceuticals from $54.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Finally, JMP Securities increased their price target on shares of Madrigal Pharmaceuticals from $63.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $139.20.

Shares of Madrigal Pharmaceuticals (NASDAQ MDGL) opened at $147.99 on Tuesday. Madrigal Pharmaceuticals has a 52-week low of $13.09 and a 52-week high of $152.62. The stock has a market cap of $2,070.00, a PE ratio of -60.16 and a beta of 1.19.

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

A number of institutional investors have recently made changes to their positions in MDGL. SG Americas Securities LLC bought a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth $100,000. New York State Common Retirement Fund bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth $109,000. California State Teachers Retirement System bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth $117,000. TIAA CREF Investment Management LLC bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth $120,000. Finally, Bank of New York Mellon Corp bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth $179,000. 19.08% of the stock is currently owned by institutional investors and hedge funds.

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About Madrigal Pharmaceuticals

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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