Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock Has Consensus Price Target of $699.20

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have received an average recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the company, Marketbeat 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 12-month price target among analysts that have covered the stock in the last year is $699.20.

Several research analysts have issued reports on MDGL shares. Canaccord Genuity Group increased their price objective on Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Wolfe Research upgraded shares of Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 target price on the stock in a research note on Tuesday, August 4th. Barclays reduced their target price on shares of Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. UBS Group reissued a “buy” rating and set a $735.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, October 14th. Finally, Citigroup started coverage on shares of Madrigal Pharmaceuticals in a research note on Wednesday, September 23rd. They set a “buy” rating and a $725.00 price objective on the stock.

Madrigal Pharmaceuticals Stock Down 4.2%

MDGL opened at $434.24 on Tuesday. The firm has a market cap of $10.03 billion, a P/E ratio of -33.69 and a beta of -1.04. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.94 and a current ratio of 3.20. The business has a 50 day moving average price of $508.23 and a 200 day moving average price of $514.26. Madrigal Pharmaceuticals has a twelve month low of $393.61 and a twelve month high of $615.00.

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

Insider Activity

In other Madrigal Pharmaceuticals news, General Counsel Shannon Kelley sold 664 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, August 17th. The shares were sold at an average price of $514.97, for a total value of $341,940.08. Following the sale, the general counsel directly owned 11,474 shares in the company, valued at approximately $5,908,765.78. The trade was a 5.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Sibold sold 6,362 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $535.59, for a total transaction of $3,407,423.58. Following the completion of the transaction, the chief executive officer directly owned 202,967 shares in the company, valued at approximately $108,707,095.53. This represents a 3.04% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 12,247 shares of company stock valued at $6,581,182 over the last ninety days. 17.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MDGL. Jupiter Topco LLC bought a new stake in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $1,039,650,000. Paulson & CO. Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the second quarter worth approximately $719,524,000. BlackRock Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the second quarter worth approximately $644,753,000. Janus Henderson Group PLC lifted its holdings in shares of Madrigal Pharmaceuticals by 27.4% in the first quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock valued at $1,051,727,000 after purchasing an additional 433,804 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Madrigal Pharmaceuticals in the second quarter valued at approximately $174,038,000. Institutional investors own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for nonalcoholic steatohepatitis, now known as metabolic dysfunction-associated steatohepatitis (MASH), and other chronic liver diseases. The company is headquartered in West Conshohocken, Pennsylvania.

Madrigal’s lead product is Rezdiffra (resmetirom), an orally administered thyroid hormone receptor beta agonist designed to target key drivers of liver disease, including hepatic fat accumulation and fibrosis.