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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $347.33.

MDGL has been the topic of a number of research reports. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. UBS Group boosted their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Oppenheimer lowered 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. Finally, B. Riley increased their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th.

Madrigal Pharmaceuticals Stock Up 0.2 %

MDGL stock opened at $293.41 on Friday. The firm’s 50-day moving average is $289.32 and its two-hundred day moving average is $266.83. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of -11.70 and a beta of -0.42. Madrigal Pharmaceuticals has a 52 week low of $168.25 and a 52 week high of $368.29. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the prior year, the business earned ($5.34) EPS. On average, analysts forecast that Madrigal Pharmaceuticals will post -23.77 earnings per share for the current fiscal year.

Insider Buying and Selling

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 stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares of the company’s stock, valued at $3,313,951.28. This represents a 31.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fred B. Craves sold 3,400 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $350.30, for a total value of $1,191,020.00. Following the sale, the director now directly owns 14,600 shares of the company’s stock, valued at $5,114,380. This trade represents a 18.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,000 shares of company stock valued at $3,830,836. Corporate insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Comerica Bank grew its position in Madrigal Pharmaceuticals by 615.4% in the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock worth $99,000 after acquiring an additional 320 shares in the last quarter. Cetera Advisors LLC acquired a new position in Madrigal Pharmaceuticals during the first quarter worth $281,000. Envestnet Portfolio Solutions Inc. bought a new position in Madrigal Pharmaceuticals during the second quarter valued at about $252,000. First Horizon Advisors Inc. lifted its position in shares of 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 buying an additional 98 shares during the last quarter. Finally, Calamos Advisors LLC boosted its stake in shares of Madrigal Pharmaceuticals by 13.8% during the 2nd quarter. Calamos Advisors LLC now owns 4,112 shares of the biopharmaceutical company’s stock worth $1,152,000 after acquiring an additional 499 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.