Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $685.31 Average Target Price from Analysts

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $685.3077.

A number of research firms recently weighed in on MDGL. The Goldman Sachs Group reaffirmed a “buy” rating and set a $571.00 price target on shares of Madrigal Pharmaceuticals in a research note on Wednesday, January 14th. TD Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Monday, January 12th. Piper Sandler increased their target price on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Finally, Zacks Research upgraded shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CFO Mardi Dier sold 1,982 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $430.87, for a total transaction of $853,984.34. Following the completion of the transaction, the chief financial officer owned 12,490 shares in the company, valued at approximately $5,381,566.30. The trade was a 13.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William John Sibold sold 1,663 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $718,316.22. Following the sale, the chief executive officer directly owned 161,829 shares of the company’s stock, valued at $69,900,418.26. This represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,612 shares of company stock worth $28,326,065 over the last ninety days. Insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Eastern Bank grew its holdings in Madrigal Pharmaceuticals by 32.3% during the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 21 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Madrigal Pharmaceuticals by 0.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 4,459 shares of the biopharmaceutical company’s stock worth $1,349,000 after acquiring an additional 30 shares in the last quarter. Centaurus Financial Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 5.0% in the third quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock valued at $325,000 after purchasing an additional 34 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Madrigal Pharmaceuticals by 34.6% in the fourth quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 36 shares during the last quarter. Finally, Accent Capital Management LLC lifted its position in shares of Madrigal Pharmaceuticals by 64.9% during the fourth quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 0.1%

Shares of NASDAQ MDGL opened at $432.78 on Friday. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. The firm has a market cap of $9.93 billion, a PE ratio of -33.63 and a beta of -0.97. The company’s fifty day simple moving average is $486.49 and its 200 day simple moving average is $488.46. Madrigal Pharmaceuticals has a 12-month low of $265.00 and a 12-month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($2.61). The company had revenue of $321.08 million during the quarter, compared to the consensus estimate of $310.36 million. Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. The company’s revenue for the quarter was up 210.8% on a year-over-year basis. During the same period last year, the firm posted ($2.71) earnings per share. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal year.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.