Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) shares were down 10.9% during mid-day trading on Tuesday . The stock traded as low as $122.55 and last traded at $127.34. Approximately 902,701 shares changed hands during mid-day trading, an increase of 309% from the average daily volume of 220,661 shares. The stock had previously closed at $142.90.
Several research analysts have recently issued reports on MDGL shares. Zacks Investment Research upgraded Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Wednesday, December 20th. BidaskClub upgraded Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 20th. Roth Capital raised their price target on 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 raised their price target on Madrigal Pharmaceuticals from $65.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, December 7th. Finally, HC Wainwright raised their price target on Madrigal Pharmaceuticals from $54.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $154.20.
The stock has a market cap of $1,811.82, a PE ratio of -47.06 and a beta of 1.32.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Tuesday, March 13th. The biopharmaceutical company reported ($0.67) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.70) by $0.03. analysts anticipate that Madrigal Pharmaceuticals Inc will post -3.24 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of MDGL. SG Americas Securities LLC bought a new position in Madrigal Pharmaceuticals during the third quarter worth about $100,000. New York State Common Retirement Fund bought a new position in Madrigal Pharmaceuticals during the second quarter worth about $109,000. California State Teachers Retirement System bought a new position in Madrigal Pharmaceuticals during the second quarter worth about $117,000. TIAA CREF Investment Management LLC bought a new position in Madrigal Pharmaceuticals during the second quarter worth about $120,000. Finally, Metropolitan Life Insurance Co. NY bought a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $133,000. Hedge funds and other institutional investors own 36.54% of the company’s stock.
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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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