Madrigal Pharmaceuticals (MDGL) Upgraded to “Buy” at Zacks Investment Research

Madrigal Pharmaceuticals (NASDAQ:MDGL) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Friday. The firm currently has a $132.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 9.54% from the stock’s current price.

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 issued reports on the company. HC Wainwright boosted their price target on Madrigal Pharmaceuticals from $105.00 to $156.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Roth Capital boosted their price target on Madrigal Pharmaceuticals from $170.00 to $210.00 and gave the company a “buy” rating in a report on Friday, February 9th. Cowen reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, April 13th. ValuEngine raised Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Goldman Sachs started coverage on Madrigal Pharmaceuticals in a report on Friday, March 23rd. They set a “buy” rating and a $191.00 price target for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Madrigal Pharmaceuticals has an average rating of “Buy” and an average target price of $159.86.

Shares of MDGL opened at $120.50 on Friday. Madrigal Pharmaceuticals has a one year low of $13.09 and a one year high of $154.75. The firm has a market capitalization of $1.68 billion, a P/E ratio of -47.44 and a beta of 1.37.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($0.45) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.78) by $0.33. analysts forecast that Madrigal Pharmaceuticals will post -2.98 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY bought a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at about $133,000. Covington Capital Management bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $184,000. MetLife Investment Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $194,000. Caxton Corp bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $222,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Madrigal Pharmaceuticals in the first quarter worth about $223,000. 36.26% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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