Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $745.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price target boosted by Citizens Jmp from $527.00 to $745.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a market outperform rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, October 8th. Piper Sandler upped their target price on shares of Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Cantor Fitzgerald upgraded Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 4th. Citigroup reaffirmed an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday. Finally, Oppenheimer increased their target price on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $632.64.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $498.04 on Tuesday. The business’s 50-day simple moving average is $560.13 and its 200 day simple moving average is $456.75. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54. The stock has a market cap of $11.31 billion, a price-to-earnings ratio of -38.28, a P/E/G ratio of 4.82 and a beta of -1.00. Madrigal Pharmaceuticals has a 12-month low of $265.00 and a 12-month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 39.04% and a negative return on equity of 41.50%. As a group, research analysts anticipate that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current year.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Kenneth Bate sold 16,575 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $484.30, for a total value of $8,027,272.50. Following the completion of the transaction, the director directly owned 2,627 shares of the company’s stock, valued at approximately $1,272,256.10. The trade was a 86.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard S. Levy sold 8,500 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $520.96, for a total value of $4,428,160.00. Following the completion of the sale, the director owned 21,197 shares of the company’s stock, valued at $11,042,789.12. This trade represents a 28.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 123,436 shares of company stock valued at $65,479,642. Company insiders own 21.50% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Madrigal Pharmaceuticals in the second quarter valued at approximately $210,000. Park Avenue Securities LLC lifted its position in 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 acquiring an additional 43 shares in the last quarter. J. Safra Sarasin Holding AG lifted its position in Madrigal Pharmaceuticals by 280.7% in the 2nd quarter. J. Safra Sarasin Holding AG now owns 6,823 shares of the biopharmaceutical company’s stock valued at $2,065,000 after acquiring an additional 5,031 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Madrigal Pharmaceuticals by 0.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,559 shares of the biopharmaceutical company’s stock worth $21,354,000 after purchasing an additional 218 shares during the period. Finally, Strid Group LLC bought a new position in Madrigal Pharmaceuticals during the 2nd quarter worth about $757,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.