Madrigal Pharmaceuticals (MDGL) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) from a sell rating to a hold rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “Madrigal Pharmaceuticals, Inc. is engaged in developing small-molecule drugs addressing cardiovascular and metabolic diseases. Its products pipeline include MGL-3196, an orally administered liver-directed thyroid hormone receptor-ß agonist that is used for the treatment of NASH, dyslipidemia/hypercholesterolemia and high triglycerides; and MGL-3745, a thyroid hormone receptor-ß agonist which are in pre-clinical trial stage. Madrigal Pharmaceuticals Inc., formerly known as Synta Pharmaceuticals Corp., is based in Fort Washington, Pennsylvania. “

A number of other equities research analysts also recently issued reports on MDGL. ValuEngine downgraded shares of Madrigal Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Monday, April 15th. BidaskClub downgraded shares of Madrigal Pharmaceuticals from a sell rating to a strong sell rating in a research note on Thursday, April 18th. UBS Group increased their price objective on shares of Madrigal Pharmaceuticals to $143.00 and gave the stock a positive rating in a research note on Thursday, March 28th. Cowen reiterated a buy rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, April 17th. Finally, Leerink Swann began coverage on shares of Madrigal Pharmaceuticals in a research note on Friday, February 22nd. They set an outperform rating on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Madrigal Pharmaceuticals has a consensus rating of Buy and a consensus price target of $223.36.

Madrigal Pharmaceuticals stock remained flat at $$103.61 during trading hours on Thursday. 121,006 shares of the company’s stock were exchanged, compared to its average volume of 218,494. The firm has a market capitalization of $1.60 billion, a P/E ratio of -46.67 and a beta of 1.07. Madrigal Pharmaceuticals has a 12-month low of $91.56 and a 12-month high of $325.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. During the same quarter last year, the company earned ($0.45) EPS. On average, analysts expect that Madrigal Pharmaceuticals will post -3.99 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Madrigal Pharmaceuticals by 135.9% in the third quarter. Dimensional Fund Advisors LP now owns 11,305 shares of the biopharmaceutical company’s stock worth $2,420,000 after acquiring an additional 6,512 shares during the last quarter. Columbus Circle Investors lifted its holdings in shares of Madrigal Pharmaceuticals by 112.5% in the fourth quarter. Columbus Circle Investors now owns 55,895 shares of the biopharmaceutical company’s stock worth $6,300,000 after acquiring an additional 29,587 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 30.8% in the fourth quarter. Alps Advisors Inc. now owns 35,572 shares of the biopharmaceutical company’s stock worth $4,010,000 after acquiring an additional 8,378 shares during the last quarter. Emory University lifted its holdings in shares of Madrigal Pharmaceuticals by 49.6% in the fourth quarter. Emory University now owns 17,038 shares of the biopharmaceutical company’s stock worth $1,921,000 after acquiring an additional 5,647 shares during the last quarter. Finally, Capital Impact Advisors LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 89.7% in the fourth quarter. Capital Impact Advisors LLC now owns 13,659 shares of the biopharmaceutical company’s stock worth $1,427,000 after acquiring an additional 6,458 shares during the last quarter. 58.36% of the stock is owned by hedge funds and other institutional investors.

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.

Read More: What is a front-end load?

Get a free copy of the Zacks research report on Madrigal Pharmaceuticals (MDGL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.