Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $441.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective upped by UBS Group from $411.00 to $441.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other analysts also recently commented on MDGL. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. Citigroup lowered their price objective on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Oppenheimer cut their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI lowered their price target on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, JMP Securities raised their price objective on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $344.33.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL opened at $331.32 on Friday. The stock has a 50 day moving average of $228.91 and a two-hundred day moving average of $243.57. Madrigal Pharmaceuticals has a 12 month low of $133.99 and a 12 month high of $337.44. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the previous year, the business posted ($5.34) EPS. Analysts expect that Madrigal Pharmaceuticals will post -27.27 EPS for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Madrigal Pharmaceuticals

Large investors have recently modified their holdings of the stock. Assetmark Inc. grew its stake in Madrigal Pharmaceuticals by 8.3% during the 3rd quarter. Assetmark Inc. now owns 3,942 shares of the biopharmaceutical company’s stock worth $837,000 after purchasing an additional 303 shares in the last quarter. Verity Asset Management Inc. increased its stake in shares of Madrigal Pharmaceuticals by 7.4% during the third quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock worth $311,000 after buying an additional 101 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Madrigal Pharmaceuticals by 66.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,176 shares of the biopharmaceutical company’s stock valued at $886,000 after acquiring an additional 1,672 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 68 shares during the last quarter. Finally, Cavalier Investments LLC purchased a new position in Madrigal Pharmaceuticals in the third quarter worth approximately $773,000. Hedge funds and other 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.