Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Given Consensus Recommendation of “Buy” by Analysts


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Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been given a consensus rating of “Buy” by the eleven analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $167.60.

A number of brokerages have commented on MDGL. Zacks Investment Research downgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, March 2nd. Oppenheimer dropped their target price on shares of Madrigal Pharmaceuticals from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 2nd. Finally, Chardan Capital upped their target price on shares of Madrigal Pharmaceuticals from $202.00 to $203.00 and gave the stock a “buy” rating in a research note on Thursday, March 4th.

Several institutional investors and hedge funds have recently made changes to their positions in MDGL. Avoro Capital Advisors LLC lifted its position in shares of Madrigal Pharmaceuticals by 37.6% in the 4th quarter. Avoro Capital Advisors LLC now owns 1,225,000 shares of the biopharmaceutical company’s stock worth $136,183,000 after purchasing an additional 335,000 shares during the period. BlackRock Inc. lifted its position in shares of Madrigal Pharmaceuticals by 43.6% in the 4th quarter. BlackRock Inc. now owns 944,418 shares of the biopharmaceutical company’s stock worth $104,993,000 after purchasing an additional 286,724 shares during the period. Norges Bank purchased a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $16,619,000. Great West Life Assurance Co. Can lifted its position in shares of Madrigal Pharmaceuticals by 8,453.8% in the 3rd quarter. Great West Life Assurance Co. Can now owns 69,200 shares of the biopharmaceutical company’s stock worth $492,000 after purchasing an additional 68,391 shares during the period. Finally, Tao Capital Management LP purchased a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter worth approximately $6,103,000. 74.24% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:MDGL traded up $2.27 during mid-day trading on Friday, hitting $117.18. 3,825 shares of the stock traded hands, compared to its average volume of 186,567. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -10.38 and a beta of 1.19. Madrigal Pharmaceuticals has a 52 week low of $63.25 and a 52 week high of $137.28. The firm’s 50 day moving average is $117.92 and its two-hundred day moving average is $119.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, February 25th. The biopharmaceutical company reported ($3.82) EPS for the quarter, topping the Zacks’ consensus estimate of ($3.98) by $0.16. Research analysts predict that Madrigal Pharmaceuticals will post -13.05 EPS for the current fiscal year.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc engages on the development and commercialization of innovative therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product, MGL-3196, is used for the treatment of non-alcoholic steatohepatitis and familial hypercholesterolemia.

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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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