Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $236.00 at B. Riley

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price target raised by B. Riley from $194.00 to $236.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. B. Riley’s price target indicates a potential downside of 28.05% from the stock’s previous close.

Several other equities analysts have also issued reports on MDGL. Citigroup cut their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. JMP Securities boosted their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, October 11th. Finally, Oppenheimer cut their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $347.33.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL traded down $3.33 during trading hours on Tuesday, hitting $327.99. The stock had a trading volume of 210,900 shares, compared to its average volume of 438,442. The company’s fifty day moving average is $228.91 and its two-hundred day moving average is $243.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals has a 52 week low of $133.99 and a 52 week high of $337.44. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of -13.08 and a beta of -0.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the previous year, the business posted ($5.34) EPS. On average, analysts anticipate that Madrigal Pharmaceuticals will post -27.27 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the sale, the chief executive officer now owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The trade was a 0.00 % 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. 22.80% of the stock is currently owned by insiders.

Institutional Trading of Madrigal Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. raised its position in shares of Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares during the period. Signaturefd LLC lifted its position in Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 39 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Madrigal Pharmaceuticals during the 1st quarter worth approximately $41,000. Nisa Investment Advisors LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 209 shares in the last quarter. Institutional investors 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.