Citigroup Forecasts Strong Price Appreciation for Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective increased by Citigroup from $378.00 to $469.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

MDGL has been the subject of several other research reports. JMP Securities restated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. UBS Group lifted their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. HC Wainwright upped their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a report on Thursday. B. Riley increased their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Two investment 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. Based on data from MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $360.25.

Madrigal Pharmaceuticals Stock Down 5.7 %

MDGL opened at $335.74 on Thursday. Madrigal Pharmaceuticals has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The company has a market capitalization of $7.32 billion, a P/E ratio of -13.39 and a beta of -0.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The firm’s fifty day moving average price is $321.42 and its two-hundred day moving average price is $283.69.

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

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 103 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $34,529.72. Following the completion of the sale, the vice president now directly owns 4,955 shares of the company’s stock, valued at approximately $1,661,114.20. The trade was a 2.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Fred B. Craves sold 3,600 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $315.31, for a total transaction of $1,135,116.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $3,468,410. This trade represents a 24.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,690 shares of company stock worth $2,692,601 over the last 90 days. 22.80% of the stock is owned by insiders.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in MDGL. Paulson & CO. Inc. boosted its position in shares of Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after purchasing an additional 192,000 shares during the last quarter. RTW Investments LP boosted its holdings in Madrigal Pharmaceuticals by 4.1% during the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock worth $423,100,000 after buying an additional 77,825 shares during the last quarter. State Street Corp grew its position in shares of Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after buying an additional 143,038 shares during the period. FMR LLC grew its position in shares of Madrigal Pharmaceuticals by 10.8% during the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company’s stock worth $267,792,000 after buying an additional 84,305 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Madrigal Pharmaceuticals by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company’s stock valued at $126,719,000 after acquiring an additional 4,923 shares during the last quarter. 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.