Madrigal Pharmaceuticals (NASDAQ:MDGL) posted its quarterly earnings results on Tuesday, March 13th. The biopharmaceutical company reported ($0.67) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.70) by $0.03, Bloomberg Earnings reports.
Shares of Madrigal Pharmaceuticals stock opened at $101.55 on Friday. The company has a market capitalization of $1,596.77, a price-to-earnings ratio of -39.98 and a beta of 1.39. Madrigal Pharmaceuticals has a fifty-two week low of $13.09 and a fifty-two week high of $154.75.
MDGL has been the topic of several analyst reports. ValuEngine upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Goldman Sachs started coverage on shares of Madrigal Pharmaceuticals in a research report on Friday, March 23rd. They issued a “buy” rating and a $191.00 target price on the stock. BidaskClub lowered shares of Madrigal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 16th. HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $105.00 to $156.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, Roth Capital raised their target price on shares of Madrigal Pharmaceuticals from $170.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $160.33.
A hedge fund recently bought a new stake in Madrigal Pharmaceuticals stock. California State Teachers Retirement System purchased a new stake in shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,200 shares of the biopharmaceutical company’s stock, valued at approximately $117,000. California State Teachers Retirement System owned about 0.06% of Madrigal Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 35.98% 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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