Madrigal Pharmaceuticals (MDGL) Price Target Cut to $200.00 by Analysts at Oppenheimer
Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective lowered by Oppenheimer from $300.00 to $200.00 in a research note issued to investors on Monday morning, The Fly reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock. Oppenheimer also issued estimates for Madrigal Pharmaceuticals’ Q1 2019 earnings at ($0.95) EPS and Q4 2019 earnings at ($1.16) EPS.
Several other research firms have also recently weighed in on MDGL. Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, July 24th. Evercore ISI upgraded shares of Madrigal Pharmaceuticals from an in-line rating to an outperform rating and raised their price objective for the company from $222.00 to $250.00 in a research report on Friday. BidaskClub cut shares of Madrigal Pharmaceuticals from a sell rating to a strong sell rating in a research report on Tuesday, October 9th. Goldman Sachs Group cut shares of Madrigal Pharmaceuticals from a buy rating to a neutral rating and set a $314.00 price objective on the stock. in a research report on Monday, August 6th. Finally, Citigroup started coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, September 4th. They set a buy rating and a $340.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $297.63.
NASDAQ MDGL opened at $120.39 on Monday. Madrigal Pharmaceuticals has a 1 year low of $40.28 and a 1 year high of $325.98. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -47.40 and a beta of 1.56.
In other news, Director Fred B. Craves purchased 2,000 shares of the business’s stock in a transaction on Monday, November 19th. The shares were acquired at an average price of $124.69 per share, with a total value of $249,380.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paul A. Friedman purchased 4,000 shares of the business’s stock in a transaction on Monday, November 19th. The stock was purchased at an average cost of $124.00 per share, for a total transaction of $496,000.00. The disclosure for this purchase can be found here. 56.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in MDGL. Meeder Asset Management Inc. lifted its position in Madrigal Pharmaceuticals by 296.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 436 shares of the biopharmaceutical company’s stock valued at $122,000 after acquiring an additional 326 shares during the period. SG Americas Securities LLC purchased a new position in Madrigal Pharmaceuticals in the second quarter worth about $124,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Madrigal Pharmaceuticals in the second quarter worth about $140,000. Public Employees Retirement Association of Colorado purchased a new position in Madrigal Pharmaceuticals in the third quarter worth about $157,000. Finally, Zeke Capital Advisors LLC purchased a new position in Madrigal Pharmaceuticals in the second quarter worth about $208,000. 54.29% of the stock is currently owned by institutional investors and hedge funds.
About Madrigal Pharmaceuticals
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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