Analysts Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Target Price at $341.75

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $341.75.

Several equities research analysts recently weighed in on MDGL shares. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. Oppenheimer dropped their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday. Evercore ISI dropped their price target 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 dropped their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $390.00 price target on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd.

Madrigal Pharmaceuticals Stock Up 3.8 %

Shares of Madrigal Pharmaceuticals stock opened at $210.67 on Thursday. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of -9.12 and a beta of -0.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67. Madrigal Pharmaceuticals has a 52-week low of $119.76 and a 52-week high of $299.98. The stock has a 50-day simple moving average of $228.28 and a 200-day simple moving average of $242.43.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to analyst estimates of $4.25 million. During the same quarter in the prior year, the firm earned ($4.69) earnings per share. The firm’s quarterly revenue was up 146280.0% compared to the same quarter last year. On average, equities research analysts expect that Madrigal Pharmaceuticals will post -27.47 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO William John Sibold sold 6,363 shares of the business’s 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 sale, the chief executive officer now owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.92% of the stock is currently owned by company insiders.

Institutional Trading of Madrigal Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its stake in Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 39 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 68 shares in the last quarter. Creative Planning boosted its stake in Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 87 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Madrigal Pharmaceuticals by 20.2% in the second quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.