B. Riley Securities Downgrades Madrigal Pharmaceuticals to Sell, Lowers Price Target to $155
Portfolio Pulse from Benzinga Newsdesk
B. Riley Securities analyst Mayank Mamtani downgraded Madrigal Pharmaceuticals (MDGL) from Neutral to Sell and reduced the price target from $204 to $155. This adjustment reflects a more bearish outlook on the company's stock.
February 27, 2024 | 2:17 pm
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Madrigal Pharmaceuticals was downgraded from Neutral to Sell by B. Riley Securities, with a price target cut from $204 to $155.
The downgrade from Neutral to Sell by a significant analyst firm like B. Riley Securities, accompanied by a substantial reduction in the price target, indicates a bearish outlook on Madrigal Pharmaceuticals. This is likely to negatively impact investor sentiment and could lead to a short-term decrease in the stock price.
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