JPMorgan Chase & Co. Invests $325,000 in Madrigal Pharmaceuticals Inc (MDGL) Stock
JPMorgan Chase & Co. bought a new position in Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 7,027 shares of the biopharmaceutical company’s stock, valued at approximately $325,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of MDGL. SG Americas Securities LLC acquired a new stake in Madrigal Pharmaceuticals in the third quarter worth $100,000. New York State Common Retirement Fund acquired a new stake in Madrigal Pharmaceuticals in the second quarter worth $109,000. California State Teachers Retirement System acquired a new stake in Madrigal Pharmaceuticals in the second quarter worth $117,000. TIAA CREF Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals in the second quarter worth $120,000. Finally, Bank of New York Mellon Corp acquired a new stake in Madrigal Pharmaceuticals in the second quarter worth $179,000. 19.10% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on MDGL shares. Zacks Investment Research raised Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, December 20th. Evercore ISI started coverage on Madrigal Pharmaceuticals in a research report on Friday, September 22nd. They issued an “outperform” rating and a $65.00 target price on the stock. Roth Capital increased their target price on Madrigal Pharmaceuticals from $82.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. HC Wainwright started coverage on Madrigal Pharmaceuticals in a research report on Wednesday, November 29th. They issued a “buy” rating and a $54.00 target price on the stock. Finally, JMP Securities increased their target price on Madrigal Pharmaceuticals from $40.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Madrigal Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $129.00.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.11. research analysts anticipate that Madrigal Pharmaceuticals Inc will post -2.57 EPS for the current fiscal year.
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Madrigal Pharmaceuticals Company Profile
Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The Company’s lead product, MGL-3196, is a Phase II-ready once-daily, oral, liver-directed selective thyroid hormone receptor-b (THR-b) agonist for the treatment of NASH, and heterozygous and homozygous familial hypercholesterolemia (FH).
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