Madrigal Pharmaceuticals’ (MDGL) “Buy” Rating Reiterated at Cowen
MDGL has been the topic of a number of other reports. Zacks Investment Research downgraded Madrigal Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, August 29th. Oppenheimer set a $300.00 price target on Madrigal Pharmaceuticals and gave the company a buy rating in a report on Wednesday, August 8th. BidaskClub downgraded Madrigal Pharmaceuticals from a sell rating to a strong sell rating in a report on Tuesday, August 14th. Finally, Citigroup initiated coverage on Madrigal Pharmaceuticals in a report on Tuesday, September 4th. They set a buy rating and a $340.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $314.00.
Shares of NASDAQ:MDGL traded down $7.10 during midday trading on Wednesday, reaching $184.49. 158,758 shares of the company’s stock traded hands, compared to its average volume of 212,828. Madrigal Pharmaceuticals has a one year low of $38.82 and a one year high of $325.98.
A number of hedge funds have recently bought and sold shares of the business. Baker BROS. Advisors LP lifted its holdings in Madrigal Pharmaceuticals by 89.9% in the second quarter. Baker BROS. Advisors LP now owns 1,169,278 shares of the biopharmaceutical company’s stock valued at $327,035,000 after acquiring an additional 553,594 shares during the period. BlackRock Inc. lifted its holdings in Madrigal Pharmaceuticals by 17.7% in the third quarter. BlackRock Inc. now owns 575,019 shares of the biopharmaceutical company’s stock valued at $123,130,000 after acquiring an additional 86,520 shares during the period. Jennison Associates LLC lifted its holdings in Madrigal Pharmaceuticals by 38.1% in the third quarter. Jennison Associates LLC now owns 223,371 shares of the biopharmaceutical company’s stock valued at $47,830,000 after acquiring an additional 61,586 shares during the period. Alliancebernstein L.P. lifted its holdings in Madrigal Pharmaceuticals by 20.7% in the third quarter. Alliancebernstein L.P. now owns 212,760 shares of the biopharmaceutical company’s stock valued at $45,558,000 after acquiring an additional 36,532 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Madrigal Pharmaceuticals by 5.1% in the third quarter. Victory Capital Management Inc. now owns 193,698 shares of the biopharmaceutical company’s stock valued at $41,476,000 after acquiring an additional 9,451 shares during the period. 53.06% of the stock is currently owned by 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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