Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $356.73 Consensus PT from Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $351.45.

Several equities analysts have commented on MDGL shares. TD Cowen boosted their price target on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. B. Riley upgraded Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and upped their price target for the stock from $155.00 to $270.00 in a report on Friday, March 15th. UBS Group increased their target price on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a “buy” rating in a report on Friday, March 15th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday, April 12th. Finally, JMP Securities cut their target price on Madrigal Pharmaceuticals from $397.00 to $381.00 and set a “market outperform” rating on the stock in a research report on Wednesday.

Madrigal Pharmaceuticals Price Performance

MDGL stock opened at $208.04 on Thursday. The business’s fifty day moving average price is $239.69 and its 200 day moving average price is $217.02. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $311.56. The company has a market capitalization of $4.43 billion, a PE ratio of -10.43 and a beta of -0.33. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.28.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same period last year, the business earned ($4.23) EPS. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals will post -21.86 EPS for the current year.

Insiders Place Their Bets

In other news, Director James M. Daly sold 32,489 shares of Madrigal Pharmaceuticals stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,198 shares in the company, valued at approximately $123,118.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 27,506 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $243.36, for a total transaction of $6,693,860.16. Following the completion of the transaction, the chief marketing officer now directly owns 458,999 shares in the company, valued at approximately $111,701,996.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James M. Daly sold 32,489 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 1,198 shares in the company, valued at approximately $123,118.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,496 shares of company stock worth $31,362,420. 23.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. ProShare Advisors LLC boosted its stake in shares of Madrigal Pharmaceuticals by 9.2% during the 1st quarter. ProShare Advisors LLC now owns 4,054 shares of the biopharmaceutical company’s stock worth $1,083,000 after purchasing an additional 343 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Madrigal Pharmaceuticals in the 1st quarter worth approximately $1,466,000. Susquehanna Fundamental Investments LLC acquired a new position in Madrigal Pharmaceuticals in the 1st quarter valued at $584,000. Swiss National Bank lifted its stake in shares of Madrigal Pharmaceuticals by 9.3% during the 1st quarter. Swiss National Bank now owns 23,400 shares of the biopharmaceutical company’s stock worth $6,249,000 after purchasing an additional 2,000 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth $326,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.