Madrigal Pharmaceuticals (NASDAQ:MDGL) Given New $405.00 Price Target at HC Wainwright

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price hoisted by HC Wainwright from $400.00 to $405.00 in a research note released on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the stock. B. Riley raised their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. UBS Group upped their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, JMP Securities reissued a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $360.25.

Madrigal Pharmaceuticals Trading Down 5.7 %

Shares of NASDAQ:MDGL opened at $335.74 on Thursday. Madrigal Pharmaceuticals has a 12-month low of $189.00 and a 12-month high of $377.46. The business has a 50 day moving average of $321.42 and a 200-day moving average of $283.69. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.32 billion, a PE ratio of -13.39 and a beta of -0.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. As a group, equities research analysts forecast that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other news, Director Fred B. Craves sold 3,600 shares of Madrigal Pharmaceuticals stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $315.31, for a total transaction of $1,135,116.00. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $3,468,410. This trade represents a 24.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Carole Huntsman sold 347 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $116,328.28. Following the sale, the insider now owns 10,438 shares in the company, valued at approximately $3,499,235.12. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,690 shares of company stock valued at $2,692,601. 22.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning grew its stake in shares of Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 87 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 68 shares during the last quarter. Verity Asset Management Inc. grew its position in shares of Madrigal Pharmaceuticals by 7.4% in the 3rd quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock valued at $311,000 after buying an additional 101 shares during the last quarter. Assetmark Inc. increased its stake in shares of Madrigal Pharmaceuticals by 8.3% in the third quarter. Assetmark Inc. now owns 3,942 shares of the biopharmaceutical company’s stock valued at $837,000 after buying an additional 303 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 1.8% in the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock worth $486,000 after acquiring an additional 40 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

About Madrigal Pharmaceuticals

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.