Brokerages Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) PT at $351.67

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $375.75.

Several brokerages recently commented on MDGL. B. Riley raised Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their price objective for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Citigroup boosted their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th.

Insider Transactions at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 103 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $34,529.72. Following the sale, the vice president now owns 4,955 shares of the company’s stock, valued at approximately $1,661,114.20. The trade was a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James M. Daly sold 15,470 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the sale, the director now owns 1,912 shares in the company, valued at $664,324.40. The trade was a 89.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,787 shares of company stock valued at $7,351,029 over the last 90 days. 22.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Creative Planning increased its holdings in Madrigal Pharmaceuticals by 2.7% during the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after buying an additional 87 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 68 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Madrigal Pharmaceuticals by 66.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,176 shares of the biopharmaceutical company’s stock worth $886,000 after purchasing an additional 1,672 shares during the last quarter. Verity Asset Management Inc. increased its stake in shares of Madrigal Pharmaceuticals by 7.4% during the 3rd quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock worth $311,000 after purchasing an additional 101 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 8.3% in the 3rd quarter. Assetmark Inc. now owns 3,942 shares of the biopharmaceutical company’s stock valued at $837,000 after purchasing an additional 303 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $321.32 on Wednesday. The stock has a 50-day moving average of $323.17 and a 200-day moving average of $286.30. Madrigal Pharmaceuticals has a one year low of $189.00 and a one year high of $377.46. The stock has a market cap of $7.09 billion, a PE ratio of -12.81 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 (NASDAQ:MDGL) last issued its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. As a group, sell-side analysts expect that Madrigal Pharmaceuticals will post -23.47 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.