HC Wainwright Lowers Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target to $215.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price reduced by analysts at HC Wainwright from $225.00 to $215.00 in a research note issued to investors on Thursday, Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 108.58% from the company’s current price.

Several other brokerages also recently weighed in on MDGL. BidaskClub raised Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 29th. Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday. B. Riley set a $134.00 price target on Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 9th. Stifel Nicolaus set a $126.00 price target on Madrigal Pharmaceuticals and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, ValuEngine raised Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $171.00.

Shares of NASDAQ MDGL traded up $7.04 during trading hours on Thursday, reaching $103.08. The stock had a trading volume of 196,900 shares, compared to its average volume of 192,555. The business’s fifty day moving average price is $90.63 and its two-hundred day moving average price is $95.76. Madrigal Pharmaceuticals has a 52-week low of $82.31 and a 52-week high of $201.96. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -46.43 and a beta of 1.11.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.03. During the same period last year, the company earned ($0.56) EPS. As a group, equities research analysts anticipate that Madrigal Pharmaceuticals will post -5.03 EPS for the current year.

Several large investors have recently bought and sold shares of MDGL. Tower Research Capital LLC TRC purchased a new position in Madrigal Pharmaceuticals in the 3rd quarter valued at about $41,000. SG Americas Securities LLC purchased a new position in Madrigal Pharmaceuticals in the 3rd quarter valued at about $2,053,000. Mackay Shields LLC lifted its stake in Madrigal Pharmaceuticals by 18.1% in the 3rd quarter. Mackay Shields LLC now owns 11,728 shares of the biopharmaceutical company’s stock valued at $1,011,000 after buying an additional 1,800 shares in the last quarter. California Public Employees Retirement System lifted its stake in Madrigal Pharmaceuticals by 124.4% in the 3rd quarter. California Public Employees Retirement System now owns 14,000 shares of the biopharmaceutical company’s stock valued at $1,207,000 after buying an additional 7,762 shares in the last quarter. Finally, Shikiar Asset Management Inc. lifted its stake in Madrigal Pharmaceuticals by 6.5% in the 3rd quarter. Shikiar Asset Management Inc. now owns 16,341 shares of the biopharmaceutical company’s stock valued at $1,409,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 61.74% of the company’s stock.

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.

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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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