Zacks Investment Research lowered shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) from a buy rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Madrigal Pharmaceuticals, Inc. is engaged in developing small-molecule drugs addressing cardiovascular and metabolic diseases. Its products pipeline include MGL-3196, an orally administered liver-directed thyroid hormone receptor-ß agonist that is used for the treatment of NASH, dyslipidemia/hypercholesterolemia and high triglycerides; and MGL-3745, a thyroid hormone receptor-ß agonist which are in pre-clinical trial stage. Madrigal Pharmaceuticals Inc., formerly known as Synta Pharmaceuticals Corp., is based in Fort Washington, Pennsylvania. “

MDGL has been the subject of several other reports. HC Wainwright assumed coverage on Madrigal Pharmaceuticals in a research report on Wednesday, November 29th. They set a buy rating and a $54.00 price target for the company. JMP Securities lifted their price target on Madrigal Pharmaceuticals from $40.00 to $63.00 and gave the company an outperform rating in a research report on Friday, October 13th. Evercore ISI lifted their price target on Madrigal Pharmaceuticals from $65.00 to $140.00 and gave the company an outperform rating in a research report on Thursday, December 7th. Finally, Roth Capital set a $82.00 price target on Madrigal Pharmaceuticals and gave the company a buy rating in a research report on Thursday, November 30th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $129.00.

Shares of Madrigal Pharmaceuticals (MDGL) traded up $8.16 during trading hours on Tuesday, hitting $107.00. The stock had a trading volume of 253,562 shares, compared to its average volume of 285,117. Madrigal Pharmaceuticals has a 1 year low of $13.09 and a 1 year high of $109.97. The stock has a market capitalization of $1,500.00, a PE ratio of -43.50 and a beta of 0.80.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.11. equities analysts expect that Madrigal Pharmaceuticals will post -2.57 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. VHCP Management II LLC purchased a new position in Madrigal Pharmaceuticals during the third quarter valued at approximately $1,349,000. JPMorgan Chase & Co. purchased a new position in Madrigal Pharmaceuticals during the third quarter valued at approximately $325,000. SG Americas Securities LLC purchased a new position in Madrigal Pharmaceuticals during the third quarter valued at approximately $100,000. Cambridge Investment Research Advisors Inc. purchased a new position in Madrigal Pharmaceuticals during the third quarter valued at approximately $353,000. Finally, Bank of New York Mellon Corp raised its position in Madrigal Pharmaceuticals by 17.9% during the third quarter. Bank of New York Mellon Corp now owns 12,945 shares of the biopharmaceutical company’s stock valued at $582,000 after acquiring an additional 1,963 shares in the last quarter. Institutional investors own 19.10% of the company’s stock.

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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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