Madrigal Pharmaceuticals (MDGL) Rating Reiterated by Cowen

Cowen restated their buy rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research report report published on Wednesday morning.

A number of other brokerages also recently weighed in on MDGL. Zacks Investment Research downgraded shares of Madrigal Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, July 18th. BidaskClub downgraded shares of Madrigal Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, July 25th. Goldman Sachs Group downgraded shares of Madrigal Pharmaceuticals from a buy rating to a neutral rating and set a $314.00 price objective for the company. in a research report on Monday, August 6th. Oppenheimer set a $300.00 price objective on shares of Madrigal Pharmaceuticals and gave the company a buy rating in a research report on Wednesday, August 8th. Finally, Citigroup began 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 for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $314.00.

Shares of MDGL traded down $19.52 during midday trading on Wednesday, hitting $190.82. The company had a trading volume of 10,052 shares, compared to its average volume of 220,554. The company has a market capitalization of $3.20 billion, a P/E ratio of -74.97 and a beta of 1.56. Madrigal Pharmaceuticals has a 52 week low of $38.82 and a 52 week high of $325.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). As a group, sell-side analysts expect that Madrigal Pharmaceuticals will post -2.19 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky bought a new position in Madrigal Pharmaceuticals in the 3rd quarter worth about $359,000. Rhumbline Advisers grew its position in Madrigal Pharmaceuticals by 7.5% in the 3rd quarter. Rhumbline Advisers now owns 6,123 shares of the biopharmaceutical company’s stock worth $1,311,000 after purchasing an additional 429 shares during the last quarter. Candriam Luxembourg S.C.A. grew its position in Madrigal Pharmaceuticals by 48.4% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 13,950 shares of the biopharmaceutical company’s stock worth $2,987,000 after purchasing an additional 4,550 shares during the last quarter. IFG Advisory LLC bought a new position in Madrigal Pharmaceuticals in the 3rd quarter worth about $443,000. Finally, WINTON GROUP Ltd grew its position in Madrigal Pharmaceuticals by 118.2% in the 3rd quarter. WINTON GROUP Ltd now owns 3,216 shares of the biopharmaceutical company’s stock worth $689,000 after purchasing an additional 1,742 shares during the last quarter. Hedge funds and other institutional investors own 53.06% of the company’s stock.

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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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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