Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $343.83 Consensus Target Price from Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $343.83.

MDGL has been the topic of several research reports. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday, July 19th. Citigroup dropped their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Wolfe Research started coverage on Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 price target on the stock. Finally, B. Riley reduced their price objective on Madrigal Pharmaceuticals from $270.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, May 10th.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $243.28 on Friday. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $299.98. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of -10.54 and a beta of -0.42. The business has a 50 day simple moving average of $272.74 and a 200 day simple moving average of $246.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. During the same period in the previous year, the business posted ($4.69) earnings per share. The business’s revenue for the quarter was up 146280.0% compared to the same quarter last year. On average, equities research analysts anticipate that Madrigal Pharmaceuticals will post -27.54 EPS for the current year.

Insider Activity

In related news, VP Robert E. Waltermire sold 1,900 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $280.00, for a total transaction of $532,000.00. Following the transaction, the vice president now directly owns 5,500 shares of the company’s stock, valued at $1,540,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Robert E. Waltermire sold 1,900 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $280.00, for a total transaction of $532,000.00. Following the completion of the sale, the vice president now directly owns 5,500 shares in the company, valued at $1,540,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $285.00, for a total transaction of $570,000.00. Following the completion of the transaction, the vice president now owns 5,500 shares in the company, valued at approximately $1,567,500. The disclosure for this sale can be found here. Insiders sold 4,936 shares of company stock worth $1,341,668 over the last quarter. Corporate insiders own 23.92% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

A number of institutional investors have recently bought and sold shares of MDGL. Signaturefd LLC raised its stake in shares of Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 39 shares in the last quarter. Amalgamated Bank lifted its stake in Madrigal Pharmaceuticals by 2.8% in the fourth quarter. Amalgamated Bank now owns 2,119 shares of the biopharmaceutical company’s stock valued at $490,000 after acquiring an additional 57 shares during the last quarter. First Horizon Advisors Inc. grew its position in Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 98 shares in the last quarter. Dana Investment Advisors Inc. grew its position in Madrigal Pharmaceuticals by 4.1% in the fourth quarter. Dana Investment Advisors Inc. now owns 3,171 shares of the biopharmaceutical company’s stock worth $734,000 after acquiring an additional 124 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Madrigal Pharmaceuticals by 5.8% during the 2nd quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company’s stock worth $631,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds 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.