Analysts Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Price Target at $347.33

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $350.83.

Several brokerages have weighed in on MDGL. JMP Securities reiterated a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Oppenheimer cut their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, UBS Group increased their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st.

Madrigal Pharmaceuticals Trading Down 10.4 %

Shares of MDGL opened at $303.70 on Tuesday. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of -12.11 and a beta of -0.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals has a 1-year low of $168.25 and a 1-year high of $368.29. The company has a 50-day moving average of $319.52 and a 200 day moving average of $272.61.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same period in the prior year, the firm posted ($5.34) EPS. On average, research analysts expect that Madrigal Pharmaceuticals will post -23.77 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of 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 purchasing an additional 68 shares during the period. Quest Partners LLC boosted its position in Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 209 shares during the last quarter. Centaurus Financial Inc. purchased a new position in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $163,000. Amalgamated Bank raised its position in Madrigal Pharmaceuticals by 20.2% during the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 102 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at $204,000. 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.