Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Cut to $390.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price decreased by HC Wainwright from $425.00 to $390.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 88.48% from the company’s previous close.

Several other research firms also recently commented on MDGL. Citigroup raised their target price on Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. JMP Securities reduced their target price on shares of Madrigal Pharmaceuticals from $397.00 to $381.00 and set a “market outperform” rating on the stock in a research note on Wednesday. Oppenheimer lifted their price target on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, March 15th. UBS Group upped their price objective on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, TD Cowen lifted their target price on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $351.45.

Madrigal Pharmaceuticals Stock Down 0.5 %

Shares of MDGL stock opened at $206.92 on Wednesday. Madrigal Pharmaceuticals has a one year low of $119.76 and a one year high of $302.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38. The stock has a fifty day moving average price of $239.11 and a 200 day moving average price of $216.95. The stock has a market cap of $4.40 billion, a P/E ratio of -10.38 and a beta of -0.33.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same period in the prior year, the company earned ($4.23) EPS. Analysts predict that Madrigal Pharmaceuticals will post -21.86 earnings per share for the current year.

Insider Activity

In related news, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the sale, the director now directly owns 10,298 shares in the company, valued at $2,651,529.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $257.48, for a total value of $2,832,280.00. Following the transaction, the director now directly owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James M. Daly sold 32,489 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the sale, the director now owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The disclosure for this sale can be found here. Insiders have sold 146,496 shares of company stock valued at $31,362,420 over the last 90 days. 23.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDGL. Tower Research Capital LLC TRC raised its position in shares of Madrigal Pharmaceuticals by 21.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,060 shares of the biopharmaceutical company’s stock valued at $301,000 after acquiring an additional 367 shares during the period. Glenmede Trust Co. NA boosted its position in shares of Madrigal Pharmaceuticals by 53.2% during the third quarter. Glenmede Trust Co. NA now owns 1,567 shares of the biopharmaceutical company’s stock worth $229,000 after purchasing an additional 544 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $314,000. Charles Schwab Investment Management Inc. increased its position in shares of Madrigal Pharmaceuticals by 11.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,501 shares of the biopharmaceutical company’s stock valued at $15,992,000 after buying an additional 11,083 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Madrigal Pharmaceuticals by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock worth $229,770,000 after buying an additional 107,816 shares during the period. Institutional investors own 98.50% of the company’s stock.

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.