Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $347.33 Average Target Price from Analysts

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have earned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $350.83.

MDGL has been the topic of a number of research reports. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. UBS Group upped their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. B. Riley lifted their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Oppenheimer lowered their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd.

Madrigal Pharmaceuticals Trading Up 1.7 %

NASDAQ:MDGL opened at $338.91 on Tuesday. Madrigal Pharmaceuticals has a 1 year low of $168.25 and a 1 year high of $368.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The stock has a fifty day moving average price of $320.07 and a two-hundred day moving average price of $272.50. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of -13.51 and a beta of -0.36.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter last year, the business earned ($5.34) EPS. As a group, sell-side analysts anticipate that Madrigal Pharmaceuticals will post -23.77 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Braidwell LP acquired a new position in Madrigal Pharmaceuticals during the third quarter valued at approximately $39,010,000. Eagle Asset Management Inc. acquired a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at $6,875,000. Intech Investment Management LLC purchased a new stake in Madrigal Pharmaceuticals during the 3rd quarter worth $1,280,000. Sofinnova Investments Inc. increased its holdings in Madrigal Pharmaceuticals by 133.4% in the 2nd quarter. Sofinnova Investments Inc. now owns 44,417 shares of the biopharmaceutical company’s stock valued at $12,444,000 after purchasing an additional 25,388 shares in the last quarter. Finally, Vestal Point Capital LP purchased a new position in Madrigal Pharmaceuticals in the third quarter valued at about $6,367,000. 98.50% of the stock is owned by institutional investors and hedge funds.

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.