Shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) have been assigned a consensus rating of “Buy” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $178.63.

A number of brokerages have commented on MDGL. Cowen reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Thursday, August 8th. BidaskClub upgraded shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, August 9th. ValuEngine upgraded shares of Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Citigroup cut their target price on shares of Madrigal Pharmaceuticals from $200.00 to $186.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Finally, Stifel Nicolaus set a $126.00 target price on shares of Madrigal Pharmaceuticals and gave the stock a “hold” rating in a report on Wednesday, August 7th.

Several institutional investors have recently modified their holdings of the company. Capital Impact Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 32.9% in the second quarter. Capital Impact Advisors LLC now owns 18,148 shares of the biopharmaceutical company’s stock worth $1,823,000 after acquiring an additional 4,489 shares during the period. Jennison Associates LLC lifted its stake in Madrigal Pharmaceuticals by 10.7% in the first quarter. Jennison Associates LLC now owns 311,020 shares of the biopharmaceutical company’s stock worth $38,958,000 after acquiring an additional 29,949 shares during the period. Shikiar Asset Management Inc. lifted its stake in Madrigal Pharmaceuticals by 7.0% in the first quarter. Shikiar Asset Management Inc. now owns 15,341 shares of the biopharmaceutical company’s stock worth $1,922,000 after acquiring an additional 1,000 shares during the period. Geode Capital Management LLC lifted its stake in Madrigal Pharmaceuticals by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 90,516 shares of the biopharmaceutical company’s stock worth $10,202,000 after acquiring an additional 4,536 shares during the period. Finally, Legal & General Group Plc lifted its stake in Madrigal Pharmaceuticals by 5.4% in the fourth quarter. Legal & General Group Plc now owns 2,673 shares of the biopharmaceutical company’s stock worth $301,000 after acquiring an additional 138 shares during the period. Hedge funds and other institutional investors own 61.70% of the company’s stock.

NASDAQ MDGL traded up $0.07 on Monday, reaching $92.54. 154,789 shares of the company’s stock traded hands, compared to its average volume of 196,193. Madrigal Pharmaceuticals has a 12 month low of $82.39 and a 12 month high of $255.68. The stock has a 50-day simple moving average of $93.32 and a 200 day simple moving average of $110.20. The stock has a market cap of $1.39 billion, a PE ratio of -41.68 and a beta of 1.18.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.06). During the same quarter last year, the company posted ($0.45) EPS. On average, equities analysts predict that Madrigal Pharmaceuticals will post -5.05 EPS for the current fiscal year.

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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