Madrigal Pharmaceuticals (NASDAQ:MDGL) PT Lowered to $350.00 at Oppenheimer

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective trimmed by Oppenheimer from $375.00 to $350.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock.

MDGL has been the topic of a number of other research reports. Citigroup dropped their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Evercore ISI dropped their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, October 11th. Finally, StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $341.75.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $210.67 on Wednesday. Madrigal Pharmaceuticals has a 1 year low of $119.76 and a 1 year high of $299.98. The stock has a market capitalization of $4.49 billion, a P/E ratio of -9.12 and a beta of -0.44. The company’s 50-day moving average is $228.28 and its 200 day moving average is $242.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to analysts’ expectations of $4.25 million. The firm’s revenue was up 146280.0% on a year-over-year basis. During the same quarter last year, the company posted ($4.69) EPS. On average, sell-side analysts expect that Madrigal Pharmaceuticals will post -27.47 earnings per share for the current year.

Insider Activity

In related news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 23.92% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 98 shares during the period. Signaturefd LLC grew its stake 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 purchasing an additional 39 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter valued at about $41,000. Nisa Investment Advisors LLC increased its position in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of Madrigal Pharmaceuticals by 5,225.0% in the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 209 shares during the period. Institutional investors own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

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.