B. Riley Securities Downgrades Madrigal Pharmaceuticals to Sell, Announces $155 Price Target
Portfolio Pulse from Benzinga Newsdesk
B. Riley Securities analyst Mayank Mamtani downgrades Madrigal Pharmaceuticals (MDGL) from Neutral to Sell and sets a price target of $155.

February 26, 2024 | 4:33 pm
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Madrigal Pharmaceuticals was downgraded from Neutral to Sell by B. Riley Securities, with a new price target of $155.
The downgrade from Neutral to Sell by a significant analyst firm like B. Riley Securities suggests a bearish outlook on Madrigal Pharmaceuticals. The setting of a price target at $155, while not explicitly stated whether it's above or below the current trading price, typically indicates the analyst's expectation of where the stock will move in the short term. Given the downgrade, this could lead to negative sentiment among investors and potential downward pressure on the stock price.
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