The JMP Securities Initiates Coverage on Madrigal Pharmaceuticals, Inc. (MDGL)

The JMP Securities Initiates Coverage on Madrigal Pharmaceuticals, Inc. (MDGL)

JMP Securities started coverage on shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in a research report issued to clients and investors on Tuesday. The brokerage set an “outperform” rating on the biopharmaceutical company’s stock.

Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) opened at 15.96 on Tuesday. The stock’s 50 day moving average is $16.03 and its 200 day moving average is $12.70. The stock’s market capitalization is $184.66 million. Madrigal Pharmaceuticals has a 52 week low of $5.25 and a 52 week high of $18.24.

A number of hedge funds have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth $142,000. Citadel Advisors LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at approximately $332,000. Baker BROS. Advisors LP purchased a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at approximately $732,000. Finally, Rock Springs Capital Management LP purchased a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at approximately $799,000. Hedge funds and other institutional investors own 8.71% of the company’s stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The Company’s lead product, MGL-3196, is a Phase II-ready once-daily, oral, liver-directed selective thyroid hormone receptor-b (THR-b) agonist for the treatment of NASH, and heterozygous and homozygous familial hypercholesterolemia (FH).

Related posts

Leave a Comment