Madrigal is on the move! The stock is up an amazing 100% in maybe 2-3 weeks. I am holding a lousy 221 shares. They were part of the SYNTA deal where SYNTA and Madrigal merged and than did RS of 1:35 and my penny shares of Synta (big let down over Rigosertib!) all of sudden were worth keeping on the NASDAQ and apparently in my Portfolio, but I lost shares at a rate of 1 for 35 so I figured that's it..im finished..another one BITES THE DUST!
In the last two weeks my failed Synta turned Madrigal which was trading about $15-18 range post split started to move up noticeably..it was moving up slow and steady all summer...I suppose Evercore was building their position...Volume picked up too..than we get the news yesterday that Evercore ISI the darling NY BANKER of WS said this...
Madrigal Pharmaceuticals (NASDAQ:MDGL) initiated with Outperform rating and $65 (191% upside) price target by Evercore ISI.
When Evercore ISI speaks..the Market listens..ok?
Wow I watched w/ utter joy the stock moving up on my screener at a rate of +50% on Friday alone..touching about $36 at one point!
In a report announced on 09/22/2017 Evercore ISI upped the price target of Madrigal Pharmaceuticals (NASDAQ:MDGL) to $65.00 indicating a possible upside of 1.91%.
""Yesterday Madrigal Pharmaceuticals (NASDAQ:MDGL) traded 39.63% higher at $22.33. MDGL’s 50-day average is $16.93 and its two hundred day average is $15.97. With the last stock price close up 95.28% relative to the two hundred day average, compared with the S&P 500 Index which has increased 0.04% over the date range. Trading volume was up over the average, with 197,847 shares of MDGL changing hands over the typical 32,606.
Madrigal Pharmaceuticals has with a one year low of $10.19 and a one year high of $31.18 and has a market capitalization of $0.
Brief Synopsis On Madrigal Pharmaceuticals (NASDAQ:MDGL)
Madrigal Pharmaceuticals, Inc., formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). 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). Its product pipeline also includes MGL-3745, which is used in the treatment of NASH and FH. MGL-3196 has completed Phase I single and multiple dose trials in healthy volunteers. MGL-3196 is being developed for dyslipidemia/hypercholesterolemia to lower low-density lipoproteins cholesterol, triglyceride levels and lipoprotein(A). MGL-3196 also reduces triglycerides in the plasma and liver by increasing fat metabolism and shows an anti-diabetic action.
I'm going to stay TUNED and mabe I can break even on this one,at $65 I'm real close to BE!
Disclosure: I am/we are long MDGL.