News

Fintel reports that on June 28, 2024, Cantor Fitzgerald initiated coverage of Madrigal Pharmaceuticals (NasdaqGS:MDGL) with a Neutral recommendation.

Analyst Price Forecast Suggests 32.91% Upside

As of June 12, 2024, the average one-year price target for Madrigal Pharmaceuticals is 372.37. The forecasts range from a low of 151.50 to a high of $532.35. The average price target represents an increase of 32.91% from its latest reported closing price of 280.16.

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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 543 funds or institutions reporting positions in Madrigal Pharmaceuticals. This is an increase of 66 owner(s) or 13.84% in the last quarter. Average portfolio weight of all funds dedicated to MDGL is 0.42%, an increase of 2.66%. Total shares owned by institutions increased in the last three months by 5.75% to 23,890K shares.

The put/call ratio of MDGL is 0.47, indicating a bullish outlook.

What are Other Shareholders Doing?

Janus Henderson Group holds 2,601K shares representing 12.21% ownership of the company. In its prior filing, the firm reported owning 2,902K shares , representing a decrease of 11.56%. The firm decreased its portfolio allocation in MDGL by 65.90% over the last quarter.

Baker Bros. Advisors holds 1,970K shares representing 9.24% ownership of the company. No change in the last quarter.

Avoro Capital Advisors holds 1,944K shares representing 9.12% ownership of the company. In its prior filing, the firm reported owning 1,889K shares , representing an increase of 2.86%. The firm increased its portfolio allocation in MDGL by 0.32% over the last quarter.

Paulson holds 1,775K shares representing 8.33% ownership of the company. In its prior filing, the firm reported owning 1,106K shares , representing an increase of 37.70%. The firm increased its portfolio allocation in MDGL by 41.77% over the last quarter.

Price T Rowe Associates holds 803K shares representing 3.77% ownership of the company. In its prior filing, the firm reported owning 389K shares , representing an increase of 51.60%. The firm increased its portfolio allocation in MDGL by 117.53% 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.

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