HC Wainwright Raises Madrigal Pharmaceuticals (MDGL) Price Target to $105.00

Recently, In analysts report revealed to investors on 6 December, Madrigal Pharmaceuticals (mdgl) shares have had their "Buy" Rating reconfirmed by investment analysts at H.C. Wainwright, who now has a $105 price target on company. Of those analysts, 4 rate stock as a Strong Buy, 0 rate it as Hold, and just no analyst rates it as a Moderate Sell. HC Wainwright's target price would suggest a potential upside of 126.78% from the company's previous close.

MDGL has been the subject of several other research reports. Roth Capital started coverage on shares of Madrigal Pharmaceuticals in a research note on Thursday, October 19th. They set a buy rating and a $62.00 price target for the company. HC Wainwright assumed coverage on Madrigal Pharmaceuticals in a research report on Wednesday, November 29th. They issued a "buy" rating and a $54.00 price target 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 equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Madrigal Pharmaceuticals now has an average rating of "Buy" and a consensus target price of $78.75. 86,700 shares of the company's stock traded hands, compared to its average volume of 44,074. Madrigal Pharmaceuticals has a fifty-two week low of $13.09 and a fifty-two week high of $53.00.

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

Institutional investors now hold around $124 million or 66.7% in MDGL stock. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Madrigal Pharmaceuticals during the 1st quarter worth approximately $321,000. Northern Trust Corp increased its stake in shares of Madrigal Pharmaceuticals by 151.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,945 shares of the biopharmaceutical company's stock worth $582,000 after buying an additional 1,963 shares in the last quarter. 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 bought a new stake in Madrigal Pharmaceuticals during the 2nd quarter valued at approximately $539,000. Finally, VHCP Management II LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $1,349,000.

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Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH).

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