Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $378.44 Average PT from Brokerages

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $378.44.

A number of brokerages have weighed in on MDGL. Citigroup boosted their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. HC Wainwright upped their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, B. Riley raised Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and boosted their price target for the company from $236.00 to $422.00 in a research note on Thursday, February 27th.

Insider Activity at Madrigal Pharmaceuticals

In related news, CMO Rebecca Taub sold 1,689 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $461,789.49. Following the sale, the chief marketing officer now owns 457,310 shares of the company’s stock, valued at $125,033,127.10. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert E. Waltermire sold 14,113 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total value of $4,817,049.16. Following the completion of the sale, the vice president now owns 3,728 shares in the company, valued at $1,272,440.96. The trade was a 79.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,900 shares of company stock worth $12,168,079. Corporate insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC bought a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $70,000. Quest Partners LLC increased its stake in Madrigal Pharmaceuticals by 172.8% in the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 368 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Madrigal Pharmaceuticals during the fourth quarter worth $141,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth about $164,000. Finally, KBC Group NV boosted its stake in Madrigal Pharmaceuticals by 73.5% in the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after acquiring an additional 258 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $343.29 on Friday. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of -13.69 and a beta of -0.41. Madrigal Pharmaceuticals has a twelve month low of $189.00 and a twelve month high of $377.46. The firm has a 50-day moving average of $329.76 and a two-hundred day moving average of $295.52.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. As a group, analysts expect that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal year.

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.