Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) from a sell rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.
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 equities research analysts also recently weighed in on MDGL. Svb Leerink initiated coverage on Madrigal Pharmaceuticals in a report on Friday, February 22nd. They set an outperform rating and a $165.00 price target on the stock. Leerink Swann initiated coverage on Madrigal Pharmaceuticals in a report on Friday, February 22nd. They set an outperform rating on the stock. BidaskClub upgraded Madrigal Pharmaceuticals from a strong sell rating to a sell rating in a report on Monday, February 25th. HC Wainwright restated a buy rating and set a $228.00 price target (down previously from $313.00) on shares of Madrigal Pharmaceuticals in a report on Thursday, February 28th. Finally, ValuEngine upgraded Madrigal Pharmaceuticals from a buy rating to a strong-buy rating in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $194.11.
Shares of NASDAQ MDGL opened at $98.67 on Tuesday. Madrigal Pharmaceuticals has a 1-year low of $89.83 and a 1-year high of $322.00. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -44.45 and a beta of 1.18.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.98) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.00) by $0.02. During the same period in the previous year, the company posted ($0.45) EPS. As a group, equities analysts expect that Madrigal Pharmaceuticals will post -4.25 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in shares of Madrigal Pharmaceuticals by 10.7% in the 1st quarter. Jennison Associates LLC now owns 311,020 shares of the biopharmaceutical company’s stock valued at $38,958,000 after acquiring an additional 29,949 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Madrigal Pharmaceuticals in the 1st quarter valued at about $17,699,000. Goldman Sachs Group Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 39.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 122,088 shares of the biopharmaceutical company’s stock valued at $15,292,000 after acquiring an additional 34,378 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Madrigal Pharmaceuticals by 10.0% in the 1st quarter. Geode Capital Management LLC now owns 99,573 shares of the biopharmaceutical company’s stock valued at $12,472,000 after acquiring an additional 9,057 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Madrigal Pharmaceuticals by 1.3% in the 1st quarter. Northern Trust Corp now owns 96,271 shares of the biopharmaceutical company’s stock valued at $12,059,000 after acquiring an additional 1,247 shares during the last quarter. Institutional investors and hedge funds own 60.89% of the company’s stock.
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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