Brokerages Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) PT at $341.75

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have received an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $341.75.

Several equities analysts recently issued reports on MDGL shares. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. HC Wainwright restated a “buy” rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Oppenheimer reduced their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citigroup reduced 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. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, October 11th.

Insider Activity

In other news, CEO William John Sibold sold 6,363 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. AMI Asset Management Corp increased its stake in Madrigal Pharmaceuticals by 101.5% in the 1st quarter. AMI Asset Management Corp now owns 9,618 shares of the biopharmaceutical company’s stock worth $2,568,000 after purchasing an additional 4,845 shares in the last quarter. Castleark Management LLC acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter worth about $2,459,000. Susquehanna Fundamental Investments LLC acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter worth about $584,000. Russell Investments Group Ltd. acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter worth about $1,466,000. Finally, Sofinnova Investments Inc. boosted its position in Madrigal Pharmaceuticals by 133.4% during the 2nd quarter. Sofinnova Investments Inc. now owns 44,417 shares of the biopharmaceutical company’s stock worth $12,444,000 after acquiring an additional 25,388 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Trading Up 3.8 %

Shares of MDGL opened at $210.67 on Thursday. The stock’s 50-day moving average is $228.28 and its two-hundred day moving average is $242.43. The stock has a market cap of $4.49 billion, a PE ratio of -9.12 and a beta of -0.44. Madrigal Pharmaceuticals has a 12 month low of $119.76 and a 12 month high of $299.98. 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 issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The business had revenue of $14.64 million during the quarter, compared to analysts’ expectations of $4.25 million. During the same period in the prior year, the company posted ($4.69) EPS. The company’s revenue for the quarter was up 146280.0% on a year-over-year basis. Equities analysts forecast that Madrigal Pharmaceuticals will post -27.47 earnings per share for the current fiscal year.

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.