Madrigal Pharmaceuticals (MDGL) Receives Downgrade From Evercore ISI Group. Will Other Analysts Follow Suit?

June 19, 2018 - By Hazel Jackson

Madrigal Pharmaceuticals (MDGL) Receives a Downgrade

Evercore ISI Group has downgraded the rating for shares of Madrigal Pharmaceuticals (MDGL) to a solid In-Line in an analyst note revealed to clients and investors on 19 June. MDGL’s previous rating by the firm was a Outperform.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Ratings Coverage

Among 7 analysts covering Madrigal Pharmaceuticals (MDGL), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Madrigal Pharmaceuticals has $31400 highest and $13000 lowest target. $280.40’s average target is -5.82% below currents $297.7399 stock price. Madrigal Pharmaceuticals had 10 analyst reports since January 30, 2018 according to SRatingsIntel. The rating was maintained by Goldman Sachs on Thursday, May 31 with “Buy”. The firm earned “Buy” rating on Friday, June 1 by H.C. Wainwright. The stock of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has “Outperform” rating given on Thursday, February 8 by Evercore. Oppenheimer initiated the stock with “Hold” rating in Monday, April 16 report. H.C. Wainwright maintained Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) rating on Tuesday, January 30. H.C. Wainwright has “Buy” rating and $156 target. As per Thursday, May 31, the company rating was upgraded by Oppenheimer. JMP Securities maintained it with “Buy” rating and $30000 target in Thursday, May 31 report. The firm earned “Buy” rating on Friday, March 23 by Goldman Sachs. The firm has “Buy” rating by Roth Capital given on Friday, March 16.

The stock decreased 2.82% or $8.6301 during the last trading session, reaching $297.7399. About 183,323 shares traded. Madrigal Pharmaceuticals, Inc. (MDGL) has risen 630.32% since June 19, 2017 and is uptrending. It has outperformed by 617.75% the S&P500.

Analysts await Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) to report earnings on August, 9. They expect $-0.60 earnings per share, up 13.04 % or $0.09 from last year’s $-0.69 per share. After $-0.45 actual earnings per share reported by Madrigal Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts 33.33 % negative EPS growth.

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 has market cap of $4.54 billion. The company’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. It currently has negative earnings. It is also developing MGL-3745, which is in pre-clinical stage, a THR-ß agonist that is in preclinical trials.

More notable recent Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) news were published by: Seekingalpha.com which released: “Premarket analyst action – healthcare” on June 19, 2018, also Globenewswire.com with their article: “Madrigal Pharmaceuticals Announces Proposed Public Offering of Common Stock” published on June 05, 2018, Fool.com published: “Cash for NASH: 2 Top Biotech Takeover Targets and 3 Potential Buyers” on June 15, 2018. More interesting news about Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) were released by: Streetinsider.com and their article: “Pre-Open Movers 05/31: (MDGL) (VTVT) (GM) Higher; (CLSD) (CRSP) (DLTR) Lower (more…)” published on May 31, 2018 as well as Nasdaq.com‘s news article titled: “Why Madrigal Pharmaceuticals, Brink’s, and Applied Optoelectronics Jumped Today” with publication date: May 31, 2018.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.