Madrigal Pharmaceuticals (NASDAQ:MDGL) Given New $745.00 Price Target at Citizens Jmp

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective increased by research analysts at Citizens Jmp from $527.00 to $745.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the biopharmaceutical company’s stock. Citizens Jmp’s price objective would indicate a potential upside of 52.86% from the stock’s current price.

Several other equities research analysts have also issued reports on MDGL. Piper Sandler raised their target price on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Wolfe Research set a $579.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 6th. B. Riley boosted their target price on shares of Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Finally, Canaccord Genuity Group raised their target price on Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $632.64.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $487.39 on Tuesday. The company has a current ratio of 3.44, a quick ratio of 3.26 and a debt-to-equity ratio of 0.54. The stock has a market cap of $11.07 billion, a PE ratio of -37.46, a price-to-earnings-growth ratio of 3.48 and a beta of -1.00. The stock’s fifty day simple moving average is $561.83 and its two-hundred day simple moving average is $454.73. Madrigal Pharmaceuticals has a 1-year low of $265.00 and a 1-year high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 39.04% and a negative return on equity of 41.50%. As a group, analysts forecast that Madrigal Pharmaceuticals will post -23.47 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director Paul A. Friedman sold 24,520 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $522.39, for a total transaction of $12,809,002.80. Following the completion of the sale, the director directly owned 187,164 shares in the company, valued at $97,772,601.96. This represents a 11.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mardi Dier sold 4,173 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $578.34, for a total transaction of $2,413,412.82. Following the sale, the chief financial officer owned 10,440 shares of the company’s stock, valued at approximately $6,037,869.60. This represents a 28.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 120,506 shares of company stock worth $64,037,125. Corporate insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Eastern Bank increased its position in shares of Madrigal Pharmaceuticals by 32.3% during the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 21 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Madrigal Pharmaceuticals by 0.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 4,459 shares of the biopharmaceutical company’s stock worth $1,349,000 after acquiring an additional 30 shares during the period. Centaurus Financial Inc. raised its position in shares of Madrigal Pharmaceuticals by 5.0% in the 3rd quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock worth $325,000 after acquiring an additional 34 shares in the last quarter. Park Avenue Securities LLC lifted its stake in shares of Madrigal Pharmaceuticals by 6.6% in the 2nd quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company’s stock valued at $212,000 after purchasing an additional 43 shares during the period. Finally, Orion Porfolio Solutions LLC boosted its position in shares of Madrigal Pharmaceuticals by 1.3% during the second quarter. Orion Porfolio Solutions LLC now owns 3,638 shares of the biopharmaceutical company’s stock valued at $1,101,000 after purchasing an additional 47 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-? agonist in Phase 3 development for the treatment of NASH.