Fintel reports that on September 5, 2023, B. Riley Securities reiterated coverage of Madrigal Pharmaceuticals (NASDAQ:MDGL) with a Neutral recommendation.
Analyst Price Forecast Suggests 79.95% Upside
As of August 31, 2023, the average one-year price target for Madrigal Pharmaceuticals is 332.01. The forecasts range from a low of 226.24 to a high of $429.45. The average price target represents an increase of 79.95% from its latest reported closing price of 184.50.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Madrigal Pharmaceuticals is 46MM. The projected annual non-GAAP EPS is -17.16.
What is the Fund Sentiment?
There are 456 funds or institutions reporting positions in Madrigal Pharmaceuticals. This is an increase of 21 owner(s) or 4.83% in the last quarter. Average portfolio weight of all funds dedicated to MDGL is 0.28%, a decrease of 6.47%. Total shares owned by institutions increased in the last three months by 11.70% to 16,495K shares. 
The put/call ratio of MDGL is 0.23, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 1,545K shares representing 8.36% ownership of the company. No change in the last quarter.
Avoro Capital Advisors holds 1,515K shares representing 8.20% ownership of the company. In it's prior filing, the firm reported owning 1,667K shares, representing a decrease of 10.00%. The firm decreased its portfolio allocation in MDGL by 20.68% over the last quarter.
Janus Henderson Group holds 1,484K shares representing 8.03% ownership of the company. In it's prior filing, the firm reported owning 376K shares, representing an increase of 74.69%. The firm increased its portfolio allocation in MDGL by 250.81% over the last quarter.
Assenagon Asset Management holds 467K shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 517K shares, representing a decrease of 10.67%. The firm decreased its portfolio allocation in MDGL by 16.03% over the last quarter.
Marshall Wace, Llp holds 461K shares representing 2.49% ownership of the company. In it's prior filing, the firm reported owning 542K shares, representing a decrease of 17.61%. The firm increased its portfolio allocation in MDGL by 12.58% 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.
Additional reading:
- Registration Rights Agreement by and among Madrigal Pharmaceuticals, Inc., 667, L.P., and Baker Brothers Life Sciences, L.P., dated as of August 7, 2023 (incorporated by reference to Exhibit 10.2 to the Issuer’s Quarterly Report on Form 10-Q, filed with the SEC on August 8, 2023).
- Form of RSU Agreement for Directors
- Form of RSU Agreement for Executive Officers
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