Streetbeat News

MDGL

Madrigal Pharmaceuticals, Inc.

https://www.madrigalpharma.com

Industry

Biotechnology

Madrigal Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-ß agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis. The company also develops MGL-3745, a backup compound to resmetirom. It has research, development, and commercialization agreement with Hoffmann-La Roche. Madrigal Pharmaceuticals, Inc. is headquartered in West Conshohocken, Pennsylvania.

Open

303.29

Mkt cap

6.3B

Volume

934K

High

303.29

P/E Ratio

-11.53

52-wk high

368.29

Low

272.72

Div yield

N/A

52-wk low

166.00

Janus Henderson Group PLC has acquired a 15.4% stake in Madrigal Pharmaceuticals, according to a 13G filing with the SEC. The stake was acquired as of September 29, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 5:10 pm

Carnival Corporation, Nike, Genius Group Limited, Vail Resorts, and Madrigal Pharmaceuticals are the stocks to watch heading into Friday. Carnival is expected to report quarterly earnings of 75 cents per share on revenue of $6.69 billion. Nike posted upbeat earnings for its first quarter, but sales missed expectations. Genius Group is expected to post first half 2023 financial results. Vail Resorts posted weaker-than-expected sales for its fourth quarter. Madrigal Pharmaceuticals reported pricing of $500 million public offering.

Portfolio Pulse from Lisa Levin

September 29, 2023 | 8:35 am

Madrigal Pharmaceuticals has priced its public offering at $151.69 per share for 1,248,098 common shares and $151.6899 per pre-funded warrant for 2,048,098 warrants, raising a total of $500 million.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 7:20 am

U.S. stocks traded higher with the Dow Jones gaining over 110 points on Thursday. Among the top stocks that gained the attention of retail traders and investors were Nike, Carnival Corporation, Activision Blizzard, Madrigal Pharmaceuticals, and Tesla. Nike reported a 2% increase in fiscal first-quarter revenue, missing estimates, but EPS beat expectations. Carnival is set to report third-quarter earnings, with expectations of 75 cents per share and revenue of $6.69 billion. Activision faced regulatory hurdles in the U.K. Madrigal announced a $500 million public offering of its common stock. Tesla's shares traded higher, bolstered by Morgan Stanley maintaining an Overweight rating and a $400 target on the stock.

Portfolio Pulse from Benzinga Neuro

September 29, 2023 | 1:47 am

Madrigal Pharmaceuticals has announced a proposed $500 million public offering. The company plans to use the proceeds for general corporate purposes, including the development of its clinical and preclinical programs.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 8:02 pm

CymaBay Therapeutics has initiated the AFFIRM Phase 3b/4 confirmatory study to evaluate the effect of seladelpar on clinical outcomes in patients with compensated cirrhosis due to primary biliary cholangitis (PBC). The study's commencement alleviates a regulatory concern that has loomed over the industry. The decision by Intercept Pharmaceuticals to halt a similar study had raised concerns among investors. Companies like Madrigal Pharmaceuticals and Inventiva S.A. also utilize outcome studies involving cirrhotic patients.

Portfolio Pulse from Vandana Singh

September 21, 2023 | 8:06 pm

Evercore ISI Group analyst Liisa Bayko maintains an Outperform rating on Madrigal Pharmaceuticals (NASDAQ:MDGL) and keeps the price target at $325.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 2:03 pm

HC Wainwright & Co. analyst Ed Arce has reiterated a 'Buy' rating on Madrigal Pharmaceuticals (NASDAQ:MDGL) and maintained a price target of $225.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 10:28 am

Madrigal Pharmaceuticals Inc has announced that Bill Sibold will be appointed as the company's President and CEO, according to an 8K filing.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 8:34 pm

Madrigal Pharmaceuticals announced that the FDA has accepted for review its New Drug Application (NDA) for resmetirom, a treatment for adult patients with NASH with liver fibrosis. This news has led to a rise in the company's stock.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 3:06 pm

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