Madrigal Pharmaceuticals Inc (MDGL) Given Average Recommendation of “Hold” by Brokerages
Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) has earned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $327.83.
MDGL has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Oppenheimer set a $300.00 price objective on shares of Madrigal Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 8th. BidaskClub downgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 14th. Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 7th. Finally, Citigroup initiated coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, September 4th. They set a “buy” rating and a $340.00 price objective for the company.
Institutional investors have recently modified their holdings of the business. International Biotechnology Trust PLC bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at $2,790,000. BlackRock Inc. boosted its holdings in Madrigal Pharmaceuticals by 53.1% in the 2nd quarter. BlackRock Inc. now owns 488,499 shares of the biopharmaceutical company’s stock valued at $136,627,000 after purchasing an additional 169,406 shares during the period. TD Asset Management Inc. boosted its holdings in Madrigal Pharmaceuticals by 104.9% in the 2nd quarter. TD Asset Management Inc. now owns 16,800 shares of the biopharmaceutical company’s stock valued at $4,699,000 after purchasing an additional 8,600 shares during the period. Macquarie Group Ltd. bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at $6,657,000. Finally, SG Americas Securities LLC bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at $124,000. 53.11% of the stock is owned by hedge funds and other institutional investors.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.03). As a group, sell-side analysts anticipate that Madrigal Pharmaceuticals will post -2.19 earnings per share for the current fiscal year.
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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