Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $341.75 Average Price Target from Brokerages

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has received an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $341.75.

A number of brokerages have issued reports on MDGL. JMP Securities upped their price objective on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 16th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Evercore ISI cut their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Citigroup lowered their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Oppenheimer reduced their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.92% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Congress Park Capital LLC bought a new stake in Madrigal Pharmaceuticals during the 1st quarter worth approximately $320,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 20.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 32,318 shares of the biopharmaceutical company’s stock worth $8,630,000 after purchasing an additional 5,392 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Madrigal Pharmaceuticals in the first quarter worth $102,000. AMI Asset Management Corp raised its position in shares of Madrigal Pharmaceuticals by 101.5% in the first quarter. AMI Asset Management Corp now owns 9,618 shares of the biopharmaceutical company’s stock worth $2,568,000 after buying an additional 4,845 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Madrigal Pharmaceuticals by 3.3% during the first quarter. Principal Financial Group Inc. now owns 4,002 shares of the biopharmaceutical company’s stock valued at $1,069,000 after buying an additional 127 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Down 0.9 %

MDGL stock opened at $215.93 on Thursday. The firm has a market capitalization of $4.60 billion, a PE ratio of -9.35 and a beta of -0.44. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals has a twelve month low of $125.57 and a twelve month high of $299.98. The stock’s 50 day moving average is $226.66 and its 200-day moving average is $242.09.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to analysts’ expectations of $4.25 million. Madrigal Pharmaceuticals’s revenue was up 146280.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($4.69) earnings per share. Sell-side analysts expect that Madrigal Pharmaceuticals will post -27.38 EPS for the current fiscal year.

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.