Analysts Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Price Target at $347.33

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $350.83.

Several analysts recently issued reports on MDGL shares. UBS Group boosted their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Oppenheimer decreased their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. HC Wainwright reissued a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 3,400 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the sale, the director now directly owns 14,600 shares in the company, valued at $5,114,380. This represents a 18.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the transaction, the director now owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,000 shares of company stock worth $3,830,836. Insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MDGL. Erste Asset Management GmbH purchased a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth about $49,749,000. Paulson & CO. Inc. lifted its stake in Madrigal Pharmaceuticals by 10.4% in the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after purchasing an additional 192,000 shares during the last quarter. Braidwell LP purchased a new position in shares of Madrigal Pharmaceuticals during the third quarter valued at approximately $39,010,000. State Street Corp grew its stake in shares of Madrigal Pharmaceuticals by 19.2% during the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after buying an additional 143,038 shares during the last quarter. Finally, Avoro Capital Advisors LLC raised its holdings in shares of Madrigal Pharmaceuticals by 5.7% in the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after buying an additional 111,111 shares during the period. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

MDGL stock opened at $303.70 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals has a 1 year low of $168.25 and a 1 year high of $368.29. The company has a market cap of $6.62 billion, a P/E ratio of -12.11 and a beta of -0.36. The stock’s fifty day moving average price is $319.52 and its 200-day moving average price is $272.61.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same period in the previous year, the business posted ($5.34) earnings per share. On average, equities analysts forecast that Madrigal Pharmaceuticals will post -23.77 earnings per share for the current 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.