Madrigal Pharmaceuticals (NASDAQ:MDGL) has been assigned a $200.00 price objective by research analysts at Oppenheimer in a report released on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target indicates a potential upside of 73.67% from the stock’s previous close.

MDGL has been the subject of a number of other reports. Raymond James cut Madrigal Pharmaceuticals from a “market perform” rating to an “underperform” rating in a report on Monday, November 19th. BidaskClub cut Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 14th. Cowen reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 7th. Zacks Investment Research cut Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Finally, Citigroup assumed coverage on Madrigal Pharmaceuticals in a report on Tuesday, September 4th. They issued a “buy” rating and a $340.00 target price for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $297.63.

Madrigal Pharmaceuticals stock opened at $115.16 on Tuesday. Madrigal Pharmaceuticals has a 12 month low of $45.54 and a 12 month high of $325.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.03). On average, sell-side analysts anticipate that Madrigal Pharmaceuticals will post -2.19 EPS for the current fiscal year.

In other Madrigal Pharmaceuticals news, Director Fred B. Craves purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was purchased at an average cost of $124.69 per share, with a total value of $249,380.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Paul A. Friedman purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were acquired at an average cost of $124.00 per share, with a total value of $496,000.00. The disclosure for this purchase can be found here. Corporate insiders own 56.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Madrigal Pharmaceuticals by 52.7% during the 3rd quarter. Vanguard Group Inc. now owns 706,318 shares of the biopharmaceutical company’s stock valued at $151,243,000 after purchasing an additional 243,664 shares in the last quarter. Legal & General Group Plc increased its holdings in Madrigal Pharmaceuticals by 166.0% during the 3rd quarter. Legal & General Group Plc now owns 2,535 shares of the biopharmaceutical company’s stock valued at $542,000 after purchasing an additional 1,582 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in Madrigal Pharmaceuticals by 3.4% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 13,203 shares of the biopharmaceutical company’s stock valued at $2,827,000 after purchasing an additional 434 shares in the last quarter. Teachers Advisors LLC increased its holdings in Madrigal Pharmaceuticals by 12.3% during the 3rd quarter. Teachers Advisors LLC now owns 13,180 shares of the biopharmaceutical company’s stock valued at $2,822,000 after purchasing an additional 1,448 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in Madrigal Pharmaceuticals by 37.4% during the 3rd quarter. Macquarie Group Ltd. now owns 32,700 shares of the biopharmaceutical company’s stock valued at $7,002,000 after purchasing an additional 8,900 shares in the last quarter. 55.54% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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