Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $400.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price hoisted by HC Wainwright from $390.00 to $400.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also commented on MDGL. UBS Group lifted their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Oppenheimer reduced their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $351.67.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $272.79 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The firm has a 50-day moving average of $315.33 and a 200-day moving average of $272.58. Madrigal Pharmaceuticals has a one year low of $168.25 and a one year high of $368.29. The company has a market cap of $5.95 billion, a P/E ratio of -10.88 and a beta of -0.36.

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 the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter last year, the business posted ($5.34) EPS. Equities research analysts forecast that Madrigal Pharmaceuticals will post -23.77 EPS for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the completion of the transaction, the director now owns 11,012 shares of the company’s stock, valued at $3,313,951.28. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Fred B. Craves sold 3,400 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the completion of the sale, the director now directly owns 14,600 shares in the company, valued at approximately $5,114,380. The trade was 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 have sold 12,000 shares of company stock worth $3,830,836. 22.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently bought and sold shares of MDGL. Oppenheimer Asset Management Inc. lifted its stake in Madrigal Pharmaceuticals by 2.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock worth $320,000 after purchasing an additional 31 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 1.8% in the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock worth $486,000 after purchasing an additional 40 shares during the period. Nisa Investment Advisors LLC raised its position in shares of 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 buying an additional 68 shares in the last quarter. Creative Planning boosted its stake in Madrigal Pharmaceuticals by 2.7% during the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after buying an additional 87 shares during the period. Finally, Verity Asset Management Inc. grew its position in Madrigal Pharmaceuticals by 7.4% during the third quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock worth $311,000 after buying an additional 101 shares in the last quarter. Hedge funds and other institutional investors 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.