Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $617.07 Consensus Price Target from Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $632.6429.

A number of research analysts recently commented on the stock. Cantor Fitzgerald raised shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 4th. B. Riley upped their price objective on shares of Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Truist Financial lifted their target price on Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Thursday. Finally, Wolfe Research set a $579.00 price target on Madrigal Pharmaceuticals in a research note on Tuesday, January 6th.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CFO Mardi Dier sold 4,173 shares of Madrigal Pharmaceuticals stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $578.34, for a total value of $2,413,412.82. Following the transaction, the chief financial officer directly owned 10,440 shares in the company, valued at $6,037,869.60. This trade represents a 28.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Shannon T. Kelley sold 692 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $497.36, for a total transaction of $344,173.12. Following the transaction, the general counsel owned 8,481 shares in the company, valued at approximately $4,218,110.16. This trade represents a 7.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 123,436 shares of company stock valued at $65,479,642. Corporate insiders own 21.50% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

Several hedge funds have recently modified their holdings of the business. Strs Ohio acquired a new position in Madrigal Pharmaceuticals during the first quarter worth $629,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Madrigal Pharmaceuticals in the second quarter valued at $210,000. Park Avenue Securities LLC boosted its position in shares of Madrigal Pharmaceuticals by 6.6% during the 2nd quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company’s stock worth $212,000 after purchasing an additional 43 shares in the last quarter. J. Safra Sarasin Holding AG grew its stake in shares of Madrigal Pharmaceuticals by 280.7% during the 2nd quarter. J. Safra Sarasin Holding AG now owns 6,823 shares of the biopharmaceutical company’s stock worth $2,065,000 after purchasing an additional 5,031 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Madrigal Pharmaceuticals by 0.3% during 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. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $480.45 on Friday. The stock’s 50-day simple moving average is $559.15 and its 200-day simple moving average is $458.08. The firm has a market capitalization of $10.91 billion, a PE ratio of -36.93, a price-to-earnings-growth ratio of 4.83 and a beta of -1.00. Madrigal Pharmaceuticals has a fifty-two week low of $265.00 and a fifty-two week high of $615.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.26 and a current ratio of 3.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing the consensus estimate 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, equities research analysts forecast that Madrigal Pharmaceuticals will post -23.47 EPS for the current fiscal year.

About Madrigal Pharmaceuticals

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.