Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives Average “Moderate Buy” Rating from Brokerages

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL – Get Rating) have earned a consensus “moderate buy” rating from the seven research firms that cover the stock, Marketbeat.com reports. One financial analyst rated the stock with a sell recommendation, one issued a hold recommendation and four gave the company a buy recommendation. The 1-year average price target among analysts who have reported on the stock in the past year is $161.00.

Separately, B. Riley downgraded Madrigal Pharmaceuticals shares from a “buy” rating to a “neutral” rating and reduced his price target for the company from $131.00 to $75.00 in a report of Friday, July 8 research.

Hedge funds weigh on Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently been buying and selling stocks. BNP Paribas Arbitrage SA increased its stake in the shares of Madrigal Pharmaceuticals by 20.5% in the 4th quarter. BNP Paribas Arbitrage SA now owns 2,483 shares of the biopharmaceutical company worth $210,000 after purchasing an additional 422 shares during the period. Connor Clark & ​​Lunn Investment Management Ltd. increased its stake in Madrigal Pharmaceuticals by 72.7% during the 4th quarter. Connor Clark & ​​Lunn Investment Management Ltd. now owns 4,445 shares of the biopharmaceutical company worth $377,000 after acquiring 1,871 additional shares during the period. Teacher Retirement System of Texas acquired a new stake in Madrigal Pharmaceuticals during Q1 for a value of approximately $209,000. Clear Creek Financial Management LLC acquired a new stake in Madrigal Pharmaceuticals during Q1 for approximately $207,000. Finally, Perceptive Advisors LLC acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter for a value of approximately $7,322,000. Institutional investors hold 69.69% of the company’s shares.

Madrigal Pharmaceuticals shares fall 2.1%

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NASDAQ: MDGL opened at $64.86 on Friday. The company’s 50-day moving average price is $70.51 and its 200-day moving average price is $76.77. The company has a market capitalization of $1.11 billion, a PE ratio of -4.30 and a beta of 1.00. The company has a debt ratio of 0.58, a current ratio of 2.55 and a quick ratio of 2.55. Madrigal Pharmaceuticals has a 1-year low of $52.33 and a 1-year high of $105.93.

Madrigal Pharmaceuticals Company Profile

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Madrigal Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, is focused on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic and hepatic diseases. Its lead product candidate is resmetirom, a selective liver-directed thyroid hormone beta receptor agonist that is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis.

Further reading

Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ: MDGL)

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