Madrigal Pharmaceuticals (MDGL) Hits New 12-Month High Following Analyst Upgrade

The third largest holder is Rock Springs Capital Management Lp, which now holds $12.73 million worth of this stock and that ownership represents almost 1.3% of its market capitalization. HC Wainwright's target price would suggest a potential upside of 126.78% from the company's previous close.

A number of other research analysts have also recently weighed in on the company. Roth Capital initiated coverage on Madrigal Pharmaceuticals in a research report on Thursday, October 19th. The stock now has a consensus rating of "Buy" and a consensus price target of $113.00. Evercore ISI initiated coverage on shares of Madrigal Pharmaceuticals in a research report on Friday, September 22nd. They set an "outperform" rating and a $65.00 price target on the stock. 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 analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Madrigal Pharmaceuticals has a consensus rating of "Buy" and an average target price of $94.25. 86,700 shares of the company's stock traded hands, compared to its average volume of 44,074. Madrigal Pharmaceuticals has a 52 week low of $13.09 and a 52 week high of $53.00.

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

Several hedge funds have recently made changes to their positions in the company. 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 valued at $891,000 after acquiring an additional 400 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Madrigal Pharmaceuticals by 151.2% in 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. Victory Capital Management Inc. purchased a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth approximately $2,274,000. New York State Common Retirement Fund bought a new position in Madrigal Pharmaceuticals in the second quarter worth approximately $109,000. 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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Insider Trading Activity for Madrigal Pharmaceuticals, Inc. 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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