Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $347.33 Consensus Target Price from Analysts

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been assigned an average rating of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $347.33.

Several research firms have weighed in on MDGL. Oppenheimer dropped their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. B. Riley lifted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. HC Wainwright restated a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. UBS Group increased their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares in the company, valued at approximately $3,313,951.28. This represents a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Fred B. Craves sold 3,600 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $315.31, for a total transaction of $1,135,116.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $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 three months, insiders have sold 12,000 shares of company stock worth $3,830,836. Corporate insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its stake in shares of Madrigal Pharmaceuticals by 47.6% during 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 during the period. Quest Partners LLC grew its position in shares of Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 209 shares during the period. Centaurus Financial Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at about $163,000. Amalgamated Bank raised its position in shares of Madrigal Pharmaceuticals by 20.2% in the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock valued at $170,000 after acquiring an additional 102 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at approximately $204,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $333.39 on Tuesday. The firm’s 50 day moving average is $319.69 and its two-hundred day moving average is $272.17. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $7.27 billion, a P/E ratio of -13.29 and a beta of -0.36. Madrigal Pharmaceuticals has a 52 week low of $168.25 and a 52 week high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same period in the previous year, the firm earned ($5.34) earnings per share. Analysts anticipate that Madrigal Pharmaceuticals will post -23.77 earnings per share for the current year.

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.