Evercore ISI Boosts Madrigal Pharmaceuticals (MDGL) Price Target to $140.00

Maricruz Casares
Diciembre 8, 2017

HC Wainwright now has a buy rating on the biopharmaceutical company's stock. HC Wainwright's target price would suggest a potential upside of 126.78% from the company's previous close.

Several other analysts have also recently commented on MDGL. Finally, Roth Capital initiated coverage on shares of Madrigal Pharmaceuticals in a research report on Thursday, October 19th. They set a "buy" rating and a $62.00 target price for the company. Evercore ISI started coverage on shares of Madrigal Pharmaceuticals in a research report on Friday, September 22nd. They set an "outperform" rating and a $65.00 target price for the company. JMP Securities lifted their price target 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Madrigal Pharmaceuticals has an average rating of Buy and an average target price of $113.00. Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has 0.00% since December 6, 2016 and is. 86,700 shares of the company's stock traded hands, 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 results on Thursday, November 9th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.11. sell-side analysts forecast that Madrigal Pharmaceuticals will post -2.57 earnings per share for the current year.

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Institutional investors now hold around $124 million or 66.7% in MDGL stock. Renaissance Technologies LLC boosted its position in shares of Madrigal Pharmaceuticals by 0.7% during the 1st quarter. Renaissance Technologies LLC now owns 57,875 shares of the biopharmaceutical company's stock worth $891,000 after buying an additional 400 shares in the last quarter. Northern Trust Corp increased its stake in shares of Madrigal Pharmaceuticals by 151.2% during the 2nd 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.

The top 5 institutional holders, in ascending order, are as follows: FMR LLC with 553,570 shares, ADAGE CAPITAL PARTNERS GP, L.L.C. with 500,000 shares, ROCK SPRINGS CAPITAL MANAGEMENT LP with 275,000 shares, ARMISTICE CAPITAL, LLC with 212,000 shares, and BLACKROCK INC. with 183,778 shares. State Street Corp acquired a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at $539,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at about $325,000. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & global trademark & copyright legislation.

Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. 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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