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

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Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price trimmed by HC Wainwright from $225.00 to $215.00 in a report released on Thursday, Briefing.com Automated Import reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently commented on MDGL. Citigroup lowered their price target on shares of Madrigal Pharmaceuticals from $186.00 to $173.00 and set a buy rating for the company in a report on Tuesday, September 17th. Cowen reaffirmed a buy rating on shares of Madrigal Pharmaceuticals in a report on Wednesday. Zacks Investment Research downgraded shares of Madrigal Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, October 9th. ValuEngine raised shares of Madrigal Pharmaceuticals from a buy rating to a strong-buy rating in a report on Tuesday, October 29th. Finally, B. Riley set a $134.00 price target on shares of Madrigal Pharmaceuticals and gave the company a buy rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Madrigal Pharmaceuticals has an average rating of Buy and a consensus target price of $171.00.

Shares of NASDAQ:MDGL traded up $7.04 during midday trading on Thursday, hitting $103.08. The company had a trading volume of 196,900 shares, compared to its average volume of 192,555. Madrigal Pharmaceuticals has a 12-month low of $82.31 and a 12-month high of $201.96. The company has a fifty day moving average of $90.63 and a two-hundred day moving average of $95.76. The company 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) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.42) by $0.03. During the same quarter in the prior year, the company posted ($0.56) earnings per share. On average, equities analysts expect that Madrigal Pharmaceuticals will post -5.03 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC raised its position in Madrigal Pharmaceuticals by 7.8% in the 2nd quarter. Jane Street Group LLC now owns 2,523 shares of the biopharmaceutical company’s stock worth $265,000 after purchasing an additional 183 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Madrigal Pharmaceuticals by 2.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 14,700 shares of the biopharmaceutical company’s stock worth $1,541,000 after purchasing an additional 300 shares during the period. Altshuler Shaham Ltd raised its position in Madrigal Pharmaceuticals by 5.1% in the 2nd quarter. Altshuler Shaham Ltd now owns 7,369 shares of the biopharmaceutical company’s stock worth $772,000 after purchasing an additional 356 shares during the period. Tower Research Capital LLC TRC purchased a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth about $41,000. Finally, Wells Fargo & Company MN raised its position in Madrigal Pharmaceuticals by 9.5% in the 2nd quarter. Wells Fargo & Company MN now owns 7,164 shares of the biopharmaceutical company’s stock worth $751,000 after purchasing an additional 619 shares during the period. 61.74% of the stock is currently owned by institutional investors.

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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