MDGL

B. Riley Securities Downgrades Madrigal Pharmaceuticals (MDGL)

Fintel reports that on February 26, 2024, B. Riley Securities downgraded their outlook for Madrigal Pharmaceuticals (NasdaqGS:MDGL) from Neutral to Sell .

Analyst Price Forecast Suggests 39.50% Upside

As of February 23, 2024, the average one-year price target for Madrigal Pharmaceuticals is 324.44. The forecasts range from a low of 206.04 to a high of $390.60. The average price target represents an increase of 39.50% from its latest reported closing price of 232.57.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Madrigal Pharmaceuticals is 155MM. The projected annual non-GAAP EPS is -11.94.

What is the Fund Sentiment?

There are 469 funds or institutions reporting positions in Madrigal Pharmaceuticals. This is an increase of 17 owner(s) or 3.76% in the last quarter. Average portfolio weight of all funds dedicated to MDGL is 0.38%, an increase of 74.75%. Total shares owned by institutions increased in the last three months by 15.90% to 22,128K shares. MDGL / Madrigal Pharmaceuticals, Inc. Put/Call Ratios The put/call ratio of MDGL is 0.88, indicating a bullish outlook.

What are Other Shareholders Doing?

MDGL / Madrigal Pharmaceuticals, Inc. Shares Held by Institutions

Janus Henderson Group holds 2,902K shares representing 14.70% ownership of the company. In it's prior filing, the firm reported owning 3,043K shares, representing a decrease of 4.85%. The firm increased its portfolio allocation in MDGL by 37.65% over the last quarter.

Baker Bros. Advisors holds 1,970K shares representing 9.98% ownership of the company. In it's prior filing, the firm reported owning 1,545K shares, representing an increase of 21.56%. The firm increased its portfolio allocation in MDGL by 298.77% over the last quarter.

Avoro Capital Advisors holds 1,889K shares representing 9.57% ownership of the company. In it's prior filing, the firm reported owning 1,555K shares, representing an increase of 17.68%. The firm increased its portfolio allocation in MDGL by 70.43% over the last quarter.

Paulson holds 1,106K shares representing 5.60% ownership of the company. In it's prior filing, the firm reported owning 500K shares, representing an increase of 54.78%. The firm increased its portfolio allocation in MDGL by 253.42% over the last quarter.

Rtw Investments holds 815K shares representing 4.13% ownership of the company. In it's prior filing, the firm reported owning 309K shares, representing an increase of 62.04%. The firm increased its portfolio allocation in MDGL by 208.96% over the last quarter.

Madrigal Pharmaceuticals Background Information
(This description is provided by the company.)

Madrigal Pharmaceuticals is a clinical-stage biopharmaceutical company pursuing novel therapeutics that target a specific thyroid hormone pathway in the liver, which is a key regulatory mechanism common to a spectrum of cardio-metabolic and fatty liver diseases with high unmet medical need. Madrigal recognizes that compounds with greater selectivity for thyroid hormone receptor (THR)-ß and liver uptake has the greatest potential to overcome challenges faced by prior, less selective compounds and deliver the full therapeutic potential of THR-ß agonism. The Company believes that resmetirom, its lead product candidate, is the first orally administered, small-molecule, liver-directed, truly ß-selective THR agonist.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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