Madrigal Pharmaceuticals (NASDAQ:MDGL) PT Lowered to $390.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price dropped by research analysts at HC Wainwright from $425.00 to $390.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 87.42% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. TD Cowen lifted their price objective on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Oppenheimer raised their target price on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Canaccord Genuity Group increased their price objective on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Citigroup increased their price target on shares of Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Finally, Evercore ISI lifted their price target on shares of Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $351.45.

Madrigal Pharmaceuticals Stock Down 4.5 %

NASDAQ MDGL traded down $9.87 during trading on Wednesday, hitting $208.09. 565,316 shares of the company traded hands, compared to its average volume of 525,390. Madrigal Pharmaceuticals has a 12 month low of $119.76 and a 12 month high of $311.56. The business has a fifty day simple moving average of $240.62 and a 200 day simple moving average of $217.08. The company has a market capitalization of $4.43 billion, a P/E ratio of -10.40 and a beta of -0.33. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.28.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same quarter in the previous year, the business earned ($4.23) earnings per share. As a group, sell-side analysts predict that Madrigal Pharmaceuticals will post -21.86 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director Richard S. Levy sold 11,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the sale, the director now owns 10,298 shares in the company, valued at $2,651,529.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Richard S. Levy sold 11,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the transaction, the director now directly owns 10,298 shares in the company, valued at approximately $2,651,529.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Rebecca Taub sold 2,676 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $245.99, for a total transaction of $658,269.24. Following the completion of the sale, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at $112,909,164.01. The disclosure for this sale can be found here. Insiders sold 146,496 shares of company stock valued at $31,362,420 in the last ninety days. 23.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Montag A & Associates Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 223.3% during the 3rd quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 134 shares during the last quarter. Global Retirement Partners LLC increased its position in Madrigal Pharmaceuticals by 454.5% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 100 shares during the period. UMB Bank n.a. acquired a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth $53,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Madrigal Pharmaceuticals by 95.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock valued at $68,000 after acquiring an additional 228 shares during the period. Finally, BNP Paribas acquired a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at about $68,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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.