Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totalling 2,475,500 shares, a growth of 10.8% from the May 30th total of 2,233,500 shares. Based on an average trading volume of 175,800 shares, the days-to-cover ratio is presently 14.1 days. Currently, 29.7% of the company’s stock are short sold.
Several equities research analysts recently commented on the stock. B. Riley reiterated a “buy” rating and set a $3.50 price target on shares of S&W Seed in a research note on Monday, June 10th. HC Wainwright set a $51.00 price target on shares of Amarin and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. ValuEngine upgraded shares of ZTE CORP/ADR from a “hold” rating to a “buy” rating in a research note on Monday, April 15th. Cowen reiterated a “market perform” rating and set a $99.00 price target (up from $97.00) on shares of United Continental in a research note on Wednesday, April 17th. Finally, BidaskClub lowered shares of Waterstone Financial from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $187.00.
NASDAQ MDGL opened at $100.00 on Tuesday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -45.05 and a beta of 1.21. Madrigal Pharmaceuticals has a one year low of $89.83 and a one year high of $296.91. The company has a fifty day simple moving average of $99.72.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results 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 business earned ($0.45) EPS. As a group, analysts expect that Madrigal Pharmaceuticals will post -4.53 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of MDGL. Marshall Wace North America L.P. acquired a new position in shares of Madrigal Pharmaceuticals during the first quarter worth about $17,699,000. Norges Bank acquired a new position in shares of Madrigal Pharmaceuticals during the fourth quarter worth about $9,282,000. Jennison Associates LLC increased its stake in shares of Madrigal Pharmaceuticals by 10.7% during the first quarter. Jennison Associates LLC now owns 311,020 shares of the biopharmaceutical company’s stock worth $38,958,000 after acquiring an additional 29,949 shares during the period. Rhenman & Partners Asset Management AB acquired a new position in shares of Madrigal Pharmaceuticals during the first quarter worth about $3,410,000. Finally, Bank of Montreal Can increased its stake in shares of Madrigal Pharmaceuticals by 1,366.3% during the first quarter. Bank of Montreal Can now owns 26,350 shares of the biopharmaceutical company’s stock worth $3,301,000 after acquiring an additional 24,553 shares during the period. Institutional investors and hedge funds own 60.87% of the company’s stock.
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.
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