Is Madrigal Pharmaceuticals Inc (MDGL) a Buy? The Stock Reaches 52-Week High Today

October 12, 2017 - By Nellie Frank

The stock of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) hit a new 52-week high and has $52.78 target or 6.00 % above today’s $49.79 share price. The 9 months bullish chart indicates low risk for the $622.14 million company. The 1-year high was reported on Oct, 12 by Barchart.com. If the $52.78 price target is reached, the company will be worth $37.33M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 50,379 shares traded. Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) has 0.00% since October 12, 2016 and is . It has underperformed by 16.70% the S&P500.

More recent Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) news were published by: Globenewswire.com which released: “Madrigal Pharmaceuticals Announces $35 Million Private Placement Offering” on June 21, 2017. Also Globenewswire.com published the news titled: “Madrigal Pharmaceuticals Reports 2017 First Quarter Financial Results” on May 11, 2017. Globenewswire.com‘s news article titled: “Madrigal Pharmaceuticals Announces Positive Outcome from Pre-Planned DSMB …” with publication date: September 19, 2017 was also an interesting one.

Madrigal Pharmaceuticals, Inc., formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The company has market cap of $622.14 million. The Firm focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis . It currently has negative earnings. 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).

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