Analysts Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) PT at $689.93

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have earned an average rating of “Moderate Buy” from the eighteen research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $689.9333.

MDGL has been the subject of a number of recent analyst reports. Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Wells Fargo & Company assumed coverage on Madrigal Pharmaceuticals in a research report on Monday, July 27th. They issued an “overweight” rating and a $685.00 price objective on the stock. Piper Sandler reissued an “overweight” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, June 24th. Evercore set a $649.00 target price on Madrigal Pharmaceuticals in a research report on Thursday, May 7th. Finally, Canaccord Genuity Group upped their target price on Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th.

Madrigal Pharmaceuticals Price Performance

MDGL stock opened at $536.20 on Thursday. The firm has a 50 day moving average of $518.60 and a 200-day moving average of $499.76. The firm has a market capitalization of $12.39 billion, a P/E ratio of -41.60 and a beta of -1.01. Madrigal Pharmaceuticals has a 12 month low of $351.32 and a 12 month high of $615.00. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The business had revenue of $364.25 million for the quarter, compared to analyst estimates of $352.13 million. During the same quarter in the prior year, the firm posted ($1.90) EPS. Madrigal Pharmaceuticals’s revenue was up 71.2% on a year-over-year basis. As a group, sell-side analysts predict that Madrigal Pharmaceuticals will post -7.03 earnings per share for the current fiscal year.

Insider Activity

In related news, insider David Soergel sold 1,042 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $495.74, for a total value of $516,561.08. Following the sale, the insider directly owned 10,033 shares of the company’s stock, valued at $4,973,759.42. This trade represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the sale, the director directly owned 22,015 shares in the company, valued at $11,347,411.60. This represents a 20.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,568 shares of company stock valued at $3,880,711 in the last three months. 17.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of institutional investors have recently made changes to their positions in MDGL. Centaurus Financial Inc. increased its stake in Madrigal Pharmaceuticals by 5.0% in the third quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock valued at $325,000 after acquiring an additional 34 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 34.6% during the fourth quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 36 shares during the last quarter. Accent Capital Management LLC lifted its stake in Madrigal Pharmaceuticals by 64.9% during the fourth quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 37 shares during the last quarter. Swiss Life Asset Management Ltd boosted its holdings in shares of Madrigal Pharmaceuticals by 6.8% in the 4th quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company’s stock worth $402,000 after purchasing an additional 44 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 35.4% in the 2nd quarter. GAMMA Investing LLC now owns 172 shares of the biopharmaceutical company’s stock worth $92,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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.