Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price target increased by JMP Securities from $63.00 to $125.00 in a research report sent to investors on Wednesday, The Fly reports. JMP Securities currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently issued reports on MDGL. Roth Capital initiated coverage on shares of Madrigal Pharmaceuticals in a report on Thursday, October 19th. They issued a buy rating and a $62.00 price target for the company. HC Wainwright raised their price target on shares of Madrigal Pharmaceuticals from $54.00 to $105.00 and gave the stock a buy rating in a report on Wednesday. Finally, Evercore ISI initiated coverage on shares of Madrigal Pharmaceuticals in a report on Friday, September 22nd. They issued an outperform rating and a $65.00 price target for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $113.00.

Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) traded down $0.80 on Wednesday, reaching $81.57. 276,635 shares of the company’s stock traded hands, compared to its average volume of 253,837. Madrigal Pharmaceuticals has a 52 week low of $13.09 and a 52 week high of $101.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.79) by $0.11. equities research analysts anticipate that Madrigal Pharmaceuticals will post -2.57 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of MDGL. VHCP Management II LLC purchased a new position in shares of Madrigal Pharmaceuticals during the third quarter worth $1,349,000. Shikiar Asset Management Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 52.8% during the third quarter. Shikiar Asset Management Inc. now owns 23,141 shares of the biopharmaceutical company’s stock worth $1,041,000 after purchasing an additional 8,000 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Madrigal Pharmaceuticals during the third quarter worth $2,274,000. Citigroup Inc. purchased a new position in shares of Madrigal Pharmaceuticals during the second quarter worth $185,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Madrigal Pharmaceuticals during the second quarter worth $109,000. 21.40% of the stock is owned by institutional investors and hedge funds.

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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).

The Fly

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