Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $400.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price boosted by HC Wainwright from $390.00 to $400.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

MDGL has been the topic of several other reports. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Oppenheimer lowered their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. UBS Group lifted their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, B. Riley upped their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $351.67.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $274.12 on Tuesday. The business’s 50-day simple moving average is $318.25 and its 200-day simple moving average is $272.57. The firm has a market capitalization of $5.98 billion, a P/E ratio of -10.93 and a beta of -0.36. Madrigal Pharmaceuticals has a 1-year low of $168.25 and a 1-year high of $368.29. 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 (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the prior year, the firm earned ($5.34) earnings per share. Equities analysts predict that Madrigal Pharmaceuticals will post -23.77 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the sale, the director now directly owns 11,012 shares in the company, valued at approximately $3,313,951.28. The trade was a 31.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fred B. Craves sold 3,400 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the sale, the director now directly owns 14,600 shares in the company, valued at approximately $5,114,380. This represents a 18.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock worth $3,830,836 in the last ninety days. 22.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its holdings in shares of Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 68 shares during the period. Quest Partners LLC raised its stake in Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 209 shares during the period. Centaurus Financial Inc. acquired a new stake in Madrigal Pharmaceuticals during the second quarter worth about $163,000. Amalgamated Bank lifted its holdings in Madrigal Pharmaceuticals by 20.2% in the second quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after acquiring an additional 102 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Madrigal Pharmaceuticals in the second quarter valued at approximately $204,000. 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.