Madrigal Pharmaceuticals (NASDAQ:MDGL) Given New $405.00 Price Target at HC Wainwright

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price target upped by research analysts at HC Wainwright from $400.00 to $405.00 in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 13.80% from the stock’s previous close.

A number of other analysts have also recently commented on the company. UBS Group lifted their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. B. Riley raised their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, JMP Securities restated a “market outperform” rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $352.08.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $355.88 on Thursday. The firm has a market capitalization of $7.76 billion, a P/E ratio of -14.19 and a beta of -0.38. 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 12 month low of $189.00 and a 12 month high of $377.46. The company’s fifty day moving average price is $320.16 and its 200 day moving average price is $283.18.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to analysts’ expectations of $97.81 million. As a group, sell-side analysts predict that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, insider Carole Huntsman sold 347 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $116,328.28. Following the sale, the insider now directly owns 10,438 shares in the company, valued at approximately $3,499,235.12. The trade was a 3.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fred B. Craves sold 3,600 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $315.31, for a total value of $1,135,116.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $3,468,410. This trade represents a 24.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,690 shares of company stock worth $2,692,601. 22.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. Paulson & CO. Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 10.4% during 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 period. RTW Investments LP boosted its stake in shares of Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after buying an additional 77,825 shares during the period. State Street Corp increased its stake in shares of Madrigal Pharmaceuticals by 19.2% in the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after acquiring an additional 143,038 shares during the last quarter. FMR LLC raised its holdings in shares of Madrigal Pharmaceuticals by 10.8% during the fourth quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company’s stock worth $267,792,000 after acquiring an additional 84,305 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Madrigal Pharmaceuticals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company’s stock valued at $126,719,000 after purchasing an additional 4,923 shares during the last quarter. 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.