Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price target lowered by equities researchers at Citigroup from $173.00 to $166.00 in a research note issued to investors on Monday, The Fly reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup‘s price target indicates a potential upside of 45.91% from the stock’s current price.
Other research analysts have also issued reports about the company. HC Wainwright decreased their target price on Madrigal Pharmaceuticals from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. B. Riley set a $134.00 price objective on shares of Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 9th. ValuEngine raised shares of Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Stifel Nicolaus set a $126.00 price objective on shares of Madrigal Pharmaceuticals and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research downgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $160.25.
Shares of NASDAQ MDGL opened at $113.77 on Monday. The business’s 50 day moving average price is $98.47 and its two-hundred day moving average price is $95.70. The company has a market cap of $1.71 billion, a PE ratio of -51.25 and a beta of 1.15. Madrigal Pharmaceuticals has a twelve month low of $82.31 and a twelve month high of $148.18.
Several hedge funds and other institutional investors have recently made changes to their positions in MDGL. Invesco Ltd. increased its stake in shares of Madrigal Pharmaceuticals by 159.2% during the second quarter. Invesco Ltd. now owns 66,896 shares of the biopharmaceutical company’s stock worth $7,011,000 after purchasing an additional 41,083 shares during the period. BlackRock Inc. grew its holdings in Madrigal Pharmaceuticals by 7.6% in the 2nd quarter. BlackRock Inc. now owns 562,032 shares of the biopharmaceutical company’s stock valued at $58,906,000 after buying an additional 39,492 shares in the last quarter. Point72 Asset Management L.P. increased its position in Madrigal Pharmaceuticals by 178.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 57,900 shares of the biopharmaceutical company’s stock worth $6,068,000 after buying an additional 37,133 shares during the period. Nuveen Asset Management LLC bought a new position in Madrigal Pharmaceuticals during the 2nd quarter worth $3,412,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth $2,906,000. Institutional investors own 62.15% 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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