Madrigal Pharmaceuticals (MDGL) PT Raised to $105.00 at HC Wainwright
Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective upped by investment analysts at HC Wainwright from $54.00 to $105.00 in a research report issued on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 27.47% from the stock’s previous close.
Several other equities research analysts also recently issued reports on the stock. Roth Capital set a $82.00 price objective on shares of Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, November 30th. JMP Securities raised their price objective on shares of Madrigal Pharmaceuticals from $40.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 13th. Finally, Evercore ISI began coverage on shares of Madrigal Pharmaceuticals in a research report on Friday, September 22nd. They set an “outperform” rating and a $65.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $113.00.
Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) opened at $82.37 on Wednesday. Madrigal Pharmaceuticals has a 1 year low of $13.09 and a 1 year high of $101.00.
Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Madrigal Pharmaceuticals during the third quarter worth approximately $100,000. New York State Common Retirement Fund bought a new position in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $109,000. California State Teachers Retirement System bought a new position in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $117,000. TIAA CREF Investment Management LLC bought a new position in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $120,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $179,000. 21.40% of the stock is currently owned by institutional investors.
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Madrigal Pharmaceuticals Company Profile
Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The Company’s lead product, MGL-3196, is a Phase II-ready once-daily, oral, liver-directed selective thyroid hormone receptor-b (THR-b) agonist for the treatment of NASH, and heterozygous and homozygous familial hypercholesterolemia (FH).
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