Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $685.31 Consensus Price Target from Analysts

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $685.3077.

Several equities research analysts recently commented on the company. Zacks Research upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. TD Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Monday, January 12th. Wolfe Research set a $579.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 6th. UBS Group set a $900.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, December 19th. Finally, Citizens Jmp boosted their target price on shares of Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the stock a “market outperform” rating in a research report on Tuesday, January 20th.

Madrigal Pharmaceuticals Stock Up 1.7%

Shares of NASDAQ MDGL opened at $438.73 on Friday. The stock has a fifty day moving average price of $480.60 and a 200 day moving average price of $487.72. The company has a current ratio of 4.01, a quick ratio of 3.77 and a debt-to-equity ratio of 0.56. Madrigal Pharmaceuticals has a 12-month low of $265.00 and a 12-month high of $615.00. The company has a market cap of $10.06 billion, a P/E ratio of -34.09 and a beta of -0.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($2.57) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The company had revenue of $321.08 million for the quarter, compared to analyst estimates of $310.36 million. During the same quarter in the prior year, the firm earned ($2.71) EPS. The company’s revenue for the quarter was up 210.8% compared to the same quarter last year. Research analysts anticipate that Madrigal Pharmaceuticals will post -23.47 EPS for the current fiscal year.

Insider Activity

In other Madrigal Pharmaceuticals news, CFO Mardi Dier sold 1,982 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $430.87, for a total value of $853,984.34. Following the transaction, the chief financial officer owned 12,490 shares in the company, valued at $5,381,566.30. The trade was a 13.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rebecca Taub sold 491 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $431.94, for a total transaction of $212,082.54. Following the completion of the transaction, the director directly owned 452,213 shares of the company’s stock, valued at approximately $195,328,883.22. The trade was a 0.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,612 shares of company stock worth $28,326,065 over the last three months. 21.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently bought and sold shares of MDGL. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Madrigal Pharmaceuticals by 388.3% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,288 shares of the biopharmaceutical company’s stock worth $7,012,000 after buying an additional 12,157 shares in the last quarter. Voya Investment Management LLC raised its holdings in Madrigal Pharmaceuticals by 16.3% in the third quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock valued at $27,261,000 after acquiring an additional 8,347 shares in the last quarter. Calamos Advisors LLC acquired a new stake in Madrigal Pharmaceuticals in the third quarter valued at $2,057,000. Marex Group plc bought a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at $548,000. Finally, New York State Common Retirement Fund boosted its stake in Madrigal Pharmaceuticals by 13.4% during the 3rd quarter. New York State Common Retirement Fund now owns 69,273 shares of the biopharmaceutical company’s stock valued at $31,773,000 after acquiring an additional 8,211 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.