Brokerages Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Price Target at $532.70

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been given an average rating of “Moderate Buy” by the fifteen research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $528.4167.

A number of analysts have commented on the company. Oppenheimer raised their price objective on Madrigal Pharmaceuticals from $500.00 to $590.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Cowen reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 26th. Bank of America raised Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $266.00 to $445.00 in a report on Monday. UBS Group reissued a “buy” rating and issued a $523.00 target price (up from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday.

Insider Activity

In related news, CEO William John Sibold sold 7,279 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $445.63, for a total transaction of $3,243,740.77. Following the completion of the sale, the chief executive officer directly owned 102,474 shares of the company’s stock, valued at $45,665,488.62. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Shannon T. Kelley sold 1,304 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $367.81, for a total value of $479,624.24. Following the sale, the general counsel directly owned 9,173 shares of the company’s stock, valued at $3,373,921.13. This represents a 12.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 165,683 shares of company stock worth $61,921,142 and sold 248,642 shares worth $91,388,103. Company insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its stake in shares of Madrigal Pharmaceuticals by 0.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 4,459 shares of the biopharmaceutical company’s stock valued at $1,349,000 after buying an additional 30 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of Madrigal Pharmaceuticals by 0.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 11,263 shares of the biopharmaceutical company’s stock valued at $3,731,000 after buying an additional 31 shares during the period. Park Avenue Securities LLC increased its stake in shares of Madrigal Pharmaceuticals by 6.6% in the 2nd quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company’s stock valued at $212,000 after buying an additional 43 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Madrigal Pharmaceuticals by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 44 shares during the period. Finally, Orion Porfolio Solutions LLC increased its stake in shares of Madrigal Pharmaceuticals by 1.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,638 shares of the biopharmaceutical company’s stock valued at $1,101,000 after buying an additional 47 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock opened at $475.87 on Monday. The stock has a 50 day moving average of $435.09 and a two-hundred day moving average of $355.41. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. Madrigal Pharmaceuticals has a 12 month low of $265.00 and a 12 month high of $496.98. The company has a market capitalization of $10.57 billion, a P/E ratio of -37.03 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The firm had revenue of $287.27 million during the quarter, compared to the consensus estimate of $244.33 million. As a group, equities analysts expect that Madrigal Pharmaceuticals will post -23.47 EPS 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.