Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock Has Consensus Price Target of $710.20

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been given an average rating of “Moderate Buy” by the eighteen brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $710.20.

Several equities research analysts have recently commented on the company. UBS Group restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 31st. Wells Fargo & Company initiated coverage on Madrigal Pharmaceuticals in a research report on Monday, July 27th. They set an “overweight” rating and a $685.00 target price on the stock. Barclays cut their price target on Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Finally, Canaccord Genuity Group raised their price objective on Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William Sibold sold 5,221 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $542.39, for a total transaction of $2,831,818.19. Following the sale, the chief executive officer owned 197,746 shares in the company, valued at approximately $107,255,452.94. This trade represents a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Shannon Kelley sold 664 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the transaction, the general counsel directly owned 11,474 shares in the company, valued at $5,908,765.78. This represents a 5.47% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 12,247 shares of company stock valued at $6,581,182 over the last three months. 17.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in Madrigal Pharmaceuticals by 27.4% during the first quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock valued at $1,051,727,000 after acquiring an additional 433,804 shares during the period. Jupiter Topco LLC bought a new position in shares of Madrigal Pharmaceuticals in the second quarter worth about $1,039,650,000. Paulson & CO. Inc. purchased a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth about $719,524,000. BlackRock Inc. purchased a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth about $644,753,000. Finally, Wellington Management Group LLP raised its stake in Madrigal Pharmaceuticals by 18.8% during the 2nd quarter. Wellington Management Group LLP now owns 825,714 shares of the biopharmaceutical company’s stock valued at $443,367,000 after purchasing an additional 130,756 shares during the period. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL opened at $516.56 on Friday. The firm has a 50 day moving average of $526.75 and a 200 day moving average of $514.37. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of -40.07 and a beta of -0.98. Madrigal Pharmaceuticals has a 12-month low of $393.61 and a 12-month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) EPS for the quarter, beating analysts’ consensus estimates of ($2.68) by $0.69. The business had revenue of $364.25 million during the quarter, compared to analysts’ expectations of $352.13 million. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The firm’s revenue was up 71.2% on a year-over-year basis. During the same period in the prior year, the company earned ($1.90) earnings per share. On average, research analysts anticipate that Madrigal Pharmaceuticals will post -7.03 earnings per share for the current year.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc (NASDAQ: MDGL) is a biopharmaceutical company focused on developing and commercializing therapies for cardiometabolic diseases, particularly nonalcoholic steatohepatitis, now commonly referred to as metabolic dysfunction-associated steatohepatitis (MASH).

The company’s lead product is Rezdiffra (resmetirom), an oral, thyroid hormone receptor beta agonist designed to target underlying liver disease. In 2024, the U.S. Food and Drug Administration approved Rezdiffra for use with diet and exercise to treat adults with noncirrhotic MASH and moderate to advanced liver fibrosis.