Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) fell 7.3% during trading on Monday after Oppenheimer lowered their price target on the stock from $300.00 to $200.00. Oppenheimer currently has an outperform rating on the stock. Madrigal Pharmaceuticals traded as low as $120.48 and last traded at $120.50. 747,508 shares changed hands during trading, an increase of 162% from the average session volume of 285,650 shares. The stock had previously closed at $129.94.

Other research analysts have also issued research reports about the stock. Raymond James lowered shares of Madrigal Pharmaceuticals from a “market perform” rating to an “underperform” rating in a research note on Monday. Goldman Sachs Group lowered shares of Madrigal Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $314.00 price target on the stock. in a research note on Monday, August 6th. BidaskClub upgraded shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 12th. Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $264.00 price target on the stock in a research note on Saturday, August 11th. Finally, Citigroup began coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, September 4th. They set a “buy” rating and a $340.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Madrigal Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $297.63.

Large investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its stake in shares of Madrigal Pharmaceuticals by 296.4% in the second quarter. Meeder Asset Management Inc. now owns 436 shares of the biopharmaceutical company’s stock worth $122,000 after acquiring an additional 326 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the second quarter worth $124,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Madrigal Pharmaceuticals in the second quarter worth $140,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth $157,000. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the second quarter worth $208,000. Hedge funds and other institutional investors own 54.29% of the company’s stock.

The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -47.44 and a beta of 1.56.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.03). Analysts expect that Madrigal Pharmaceuticals Inc will post -2.19 earnings per share for the current year.

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About Madrigal Pharmaceuticals (NASDAQ:MDGL)

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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