B. Riley reissued their neutral rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL – Free Report) in a research note published on Monday morning, Benzinga reports. B. Riley currently has a $224.00 price target on the biopharmaceutical company’s stock.
A number of other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group reaffirmed a buy rating and set a $336.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, July 18th. StockNews.com started coverage on Madrigal Pharmaceuticals in a research note on Thursday, August 17th. They issued a sell rating for the company. Finally, Oppenheimer reduced their price target on shares of Madrigal Pharmaceuticals from $350.00 to $285.00 and set an outperform rating on the stock in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $309.18.
Madrigal Pharmaceuticals Trading Down 7.9 %
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($4.69) earnings per share for the quarter, missing the consensus estimate of ($4.59) by ($0.10). Research analysts expect that Madrigal Pharmaceuticals will post -18.89 earnings per share for the current fiscal year.
Institutional Trading of Madrigal Pharmaceuticals
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDGL. JPMorgan Chase & Co. lifted its position in Madrigal Pharmaceuticals by 2.9% during the 1st quarter. JPMorgan Chase & Co. now owns 35,674 shares of the biopharmaceutical company’s stock valued at $3,500,000 after purchasing an additional 1,017 shares during the period. Bank of New York Mellon Corp boosted its stake in Madrigal Pharmaceuticals by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 36,127 shares of the biopharmaceutical company’s stock valued at $3,545,000 after acquiring an additional 1,383 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Madrigal Pharmaceuticals by 13.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,350 shares of the biopharmaceutical company’s stock valued at $819,000 after acquiring an additional 1,000 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Madrigal Pharmaceuticals by 58.6% during the 1st quarter. MetLife Investment Management LLC now owns 6,682 shares of the biopharmaceutical company’s stock worth $656,000 after acquiring an additional 2,468 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Madrigal Pharmaceuticals by 3.8% during the 1st quarter. Rhumbline Advisers now owns 12,393 shares of the biopharmaceutical company’s stock valued at $1,216,000 after acquiring an additional 451 shares during the last quarter. 79.86% 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 of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor beta agonist, which is in Phase III clinical trials for treating NASH.
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