Cowen reaffirmed their buy rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research report released on Tuesday morning, AnalystRatings.com reports.

Several other equities analysts have also weighed in on the company. Stifel Nicolaus set a $126.00 target price on Madrigal Pharmaceuticals and gave the company a hold rating in a report on Wednesday, August 7th. BidaskClub lowered Madrigal Pharmaceuticals from a sell rating to a strong sell rating in a report on Friday, November 8th. HC Wainwright cut their target price on Madrigal Pharmaceuticals from $225.00 to $215.00 and set a buy rating on the stock in a report on Thursday, November 7th. Citigroup cut their target price on Madrigal Pharmaceuticals from $186.00 to $173.00 and set a buy rating on the stock in a report on Tuesday, September 17th. Finally, ValuEngine upgraded Madrigal Pharmaceuticals from a buy rating to a strong-buy rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $171.00.

Shares of MDGL traded up $0.75 during trading hours on Tuesday, hitting $99.50. 204,200 shares of the company were exchanged, compared to its average volume of 122,413. Madrigal Pharmaceuticals has a one year low of $82.31 and a one year high of $148.18. The firm has a fifty day simple moving average of $91.60 and a 200-day simple moving average of $95.62. The company has a market capitalization of $1.60 billion, a PE ratio of -44.82 and a beta of 1.11.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.42) by $0.03. During the same period in the prior year, the business earned ($0.56) EPS. Equities analysts anticipate that Madrigal Pharmaceuticals will post -5.1 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Jane Street Group LLC increased its stake in shares of Madrigal Pharmaceuticals by 7.8% in the second 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. increased its stake in shares of Madrigal Pharmaceuticals by 2.1% in the second 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 increased its stake in shares of Madrigal Pharmaceuticals by 5.1% in the second 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 bought a new position in shares of Madrigal Pharmaceuticals in the third quarter worth about $41,000. Finally, Wells Fargo & Company MN increased its stake in shares of Madrigal Pharmaceuticals by 9.5% in the second 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. Institutional investors and hedge funds own 61.85% of the company’s stock.

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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