Madrigal Pharmaceuticals (NASDAQ:MDGL) Shares Up 11.7% – What’s Next?

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)’s share price traded up 11.7% on Thursday . The stock traded as high as $572.20 and last traded at $515.9930. 674,300 shares traded hands during trading, an increase of 91% from the average session volume of 353,417 shares. The stock had previously closed at $461.93.

Analysts Set New Price Targets

A number of brokerages have issued reports on MDGL. B. Riley Financial upped their price objective on shares of Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. TD Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, January 12th. Citigroup reaffirmed an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Thursday, January 22nd. Finally, UBS Group set a $900.00 target price on Madrigal Pharmaceuticals in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $685.31.

Madrigal Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 4.01 and a quick ratio of 3.77. The company has a market capitalization of $11.83 billion, a PE ratio of -40.08 and a beta of -0.97. The firm has a 50-day moving average of $463.40 and a 200 day moving average of $489.10.

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

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, insider Carole Huntsman sold 419 shares of Madrigal Pharmaceuticals 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 $180,982.86. Following the sale, the insider owned 12,692 shares of the company’s stock, valued at $5,482,182.48. The trade was a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Shannon T. Kelley sold 360 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $431.94, for a total value of $155,498.40. Following the sale, the general counsel owned 12,138 shares in the company, valued at $5,242,887.72. The trade was a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 55,612 shares of company stock valued at $28,326,065. Company insiders own 21.50% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Large investors have recently bought and sold shares of the business. Flagship Harbor Advisors LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at about $29,000. Mather Group LLC. bought a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth approximately $33,000. Global Retirement Partners LLC lifted its position in Madrigal Pharmaceuticals by 221.7% during the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 51 shares during the last quarter. First Horizon Corp purchased a new stake in Madrigal Pharmaceuticals during the third quarter valued at approximately $34,000. Finally, Aventura Private Wealth LLC acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $36,000. Institutional investors own 98.50% of the company’s stock.

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.