Evercore ISI Reaffirms “In-Line” Rating for Madrigal Pharmaceuticals (MDGL)

Madrigal Pharmaceuticals (NASDAQ:MDGL)‘s stock had its “in-line” rating reaffirmed by analysts at Evercore ISI in a report issued on Wednesday.

A number of other research firms also recently commented on MDGL. Oppenheimer set a $130.00 target price on Madrigal Pharmaceuticals and gave the company a “hold” rating in a report on Tuesday, May 8th. HC Wainwright raised their target price on Madrigal Pharmaceuticals to $178.00 and gave the company a “buy” rating in a report on Thursday, May 24th. Cowen reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, April 13th. UBS Group raised Madrigal Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Thursday, May 31st. Finally, JMP Securities reissued an “outperform” rating and issued a $300.00 target price (up previously from $150.00) on shares of Madrigal Pharmaceuticals in a report on Thursday, May 31st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $291.43.

Madrigal Pharmaceuticals opened at $277.96 on Wednesday, Marketbeat reports. Madrigal Pharmaceuticals has a 1-year low of $14.93 and a 1-year high of $325.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.33. equities research analysts forecast that Madrigal Pharmaceuticals will post -2.58 EPS for the current year.

In other news, Director Bay City Capital Llc sold 280,000 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, June 11th. The stock was sold at an average price of $287.46, for a total transaction of $80,488,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rebecca Taub sold 73,526 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, June 11th. The stock was sold at an average price of $287.46, for a total value of $21,135,783.96. The disclosure for this sale can be found here. Insiders have sold a total of 363,625 shares of company stock valued at $104,527,643 in the last ninety days. Corporate insiders own 56.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth $133,000. Covington Capital Management acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth $184,000. MetLife Investment Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth $194,000. Caxton Corp acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $222,000. Finally, PNC Financial Services Group Inc. acquired a new position in Madrigal Pharmaceuticals in the 1st quarter valued at about $223,000. 44.25% of the stock is owned by institutional investors and hedge funds.

About Madrigal Pharmaceuticals

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.

Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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