Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $347.33 Average Price Target from Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has earned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $347.33.

A number of brokerages have recently issued reports on MDGL. Oppenheimer decreased their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. B. Riley increased their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. UBS Group lifted their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th.

Madrigal Pharmaceuticals Trading Up 0.7 %

MDGL stock opened at $304.50 on Friday. Madrigal Pharmaceuticals has a 52-week low of $168.25 and a 52-week high of $368.29. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The firm has a market cap of $6.64 billion, a P/E ratio of -12.14 and a beta of -0.42. The company’s 50-day simple moving average is $282.31 and its 200-day simple moving average is $265.36.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same period in the previous year, the company posted ($5.34) EPS. As a group, equities analysts forecast that Madrigal Pharmaceuticals will post -23.77 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 3,400 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the sale, the director now directly owns 14,600 shares of the company’s stock, valued at $5,114,380. This trade represents a 18.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now owns 11,012 shares in the company, valued at approximately $3,313,951.28. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $3,830,836 in the last ninety days. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently modified their holdings of MDGL. Oppenheimer Asset Management Inc. boosted its holdings in Madrigal Pharmaceuticals by 2.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock valued at $320,000 after purchasing an additional 31 shares during the last quarter. Signaturefd LLC raised its position in shares of Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 39 shares during the period. Victory Capital Management Inc. raised its position in shares of Madrigal Pharmaceuticals by 1.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $486,000 after buying an additional 40 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 68 shares during the last quarter. Finally, Creative Planning grew its position in Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.