Madrigal Pharmaceuticals (MDGL) PT Raised to $125.00 at JMP Securities

Modesto Morganelli
Dicembre 8, 2017

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price lifted by HC Wainwright from $54.00 to $105.00 in a research note published on Wednesday. The third largest holder is Rock Springs Capital Management Lp, which now holds $12.73 million worth of this stock and that ownership represents almost 1.3% of its market capitalization. This target by H.C. Wainwright would suggest the possibile upside of 23.97 % from the previous close.

A number of other equities research analysts also recently issued reports on MDGL. Roth Capital initiated coverage on Madrigal Pharmaceuticals in a research report on Thursday, October 19th. They set a "buy" rating and a $62.00 target price on the stock. They set an outperform rating and a $65.00 price target for the company. JMP Securities upped their target price on shares of Madrigal Pharmaceuticals from $40.00 to $63.00 and gave the company an "outperform" rating in a research report on Friday, October 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company.

Shares of Madrigal Pharmaceuticals (NASDAQ MDGL) traded down $1.68 on Wednesday, reaching $46.30. The company's stock had a trading volume of 86,700 shares, compared to its average volume of 44,074. The stock's 52-week range is $13.09 to $53.00, and its 3-month range is $16.91 to $101.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.11. research analysts expect that Madrigal Pharmaceuticals, Inc. will post -2.57 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the business. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Madrigal Pharmaceuticals during the 1st quarter worth approximately $321,000. Renaissance Technologies LLC now owns 57,875 shares of the biopharmaceutical company's stock valued at $891,000 after acquiring an additional 400 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Madrigal Pharmaceuticals by 17.9% during the 3rd quarter. Northern Trust Corp now owns 50,069 shares of the biopharmaceutical company's stock valued at $814,000 after buying an additional 30,134 shares during the period. Fmr Llc owns $25.63 million in Madrigal Pharmaceuticals, Inc., which represents roughly 2.62% of the company's market cap and approximately 20.67% of the institutional ownership. State Street Corp acquired a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at $539,000. Finally, JPMorgan Chase & Co. bought a new position in Madrigal Pharmaceuticals in the third quarter worth approximately $325,000.

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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 companyÂ's lead candidate is MGL-3196, which is in Phase II clinical trials, a liver-directed thyroid hormone receptor-ß agonist used for the treatment of nonalcoholic fatty liver disease, nonalcoholic steatohepatitis, and familial hypercholesterolemia.

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