Evercore ISI upgraded shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) from an in-line rating to an outperform rating in a research report sent to investors on Friday, MarketBeat.com reports. Evercore ISI currently has $250.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $222.00.

Several other analysts have also commented 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. BidaskClub lowered shares of Madrigal Pharmaceuticals from a sell rating to a strong sell rating in a research report on Tuesday, October 9th. Oppenheimer set a $300.00 price target on shares of Madrigal Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, November 13th. 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 report on Monday, August 6th. Finally, Citigroup started coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, September 4th. They issued a buy rating and a $340.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $297.63.

Shares of Madrigal Pharmaceuticals stock opened at $120.50 on Friday. Madrigal Pharmaceuticals has a 12-month low of $40.28 and a 12-month high of $325.98. The stock 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 issued its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.03). As a group, equities research analysts anticipate that Madrigal Pharmaceuticals will post -2.19 EPS for the current year.

In other news, CEO Paul A. Friedman bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were purchased at an average price of $124.00 per share, for a total transaction of $496,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fred B. Craves bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were purchased at an average price of $124.69 per share, for a total transaction of $249,380.00. The disclosure for this purchase can be found here. 56.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors boosted its position in Madrigal Pharmaceuticals by 21.5% during the third quarter. Capital Research Global Investors now owns 1,664,452 shares of the biopharmaceutical company’s stock worth $356,409,000 after acquiring an additional 294,200 shares during the last quarter. Baker BROS. Advisors LP boosted its position in Madrigal Pharmaceuticals by 89.9% during the second quarter. Baker BROS. Advisors LP now owns 1,169,278 shares of the biopharmaceutical company’s stock worth $327,035,000 after acquiring an additional 553,594 shares during the last quarter. BlackRock Inc. boosted its position in Madrigal Pharmaceuticals by 17.7% during the third quarter. BlackRock Inc. now owns 575,019 shares of the biopharmaceutical company’s stock worth $123,130,000 after acquiring an additional 86,520 shares during the last quarter. HealthCor Management L.P. boosted its position in Madrigal Pharmaceuticals by 33.2% during the third quarter. HealthCor Management L.P. now owns 262,860 shares of the biopharmaceutical company’s stock worth $56,286,000 after acquiring an additional 65,579 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Madrigal Pharmaceuticals by 38.1% during the third quarter. Jennison Associates LLC now owns 223,371 shares of the biopharmaceutical company’s stock worth $47,830,000 after acquiring an additional 61,586 shares during the last quarter. Hedge funds and other institutional investors own 54.29% of the company’s stock.

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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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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