Analysts Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Target Price at $416.33

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $420.63.

Several equities research analysts have recently weighed in on MDGL shares. HC Wainwright boosted their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Citigroup boosted their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. UBS Group boosted their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, May 5th. Finally, Canaccord Genuity Group boosted their target price on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $282.32 on Friday. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of -11.26 and a beta of -1.08. The firm’s fifty day simple moving average is $298.11 and its 200 day simple moving average is $315.16. Madrigal Pharmaceuticals has a twelve month low of $200.63 and a twelve month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, topping the consensus estimate of ($3.62) by $0.30. The company had revenue of $137.25 million during the quarter, compared to the consensus estimate of $112.79 million. During the same period in the previous year, the firm posted ($7.38) EPS. As a group, equities research analysts expect that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Institutional investors have recently modified their holdings of the business. KBC Group NV boosted its stake in Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 258 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in Madrigal Pharmaceuticals during the 4th quarter valued at about $1,297,000. Rhumbline Advisers boosted its stake in Madrigal Pharmaceuticals by 1.0% during the 4th quarter. Rhumbline Advisers now owns 24,440 shares of the biopharmaceutical company’s stock valued at $7,541,000 after purchasing an additional 243 shares during the period. Sanctuary Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 5.2% during the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company’s stock valued at $422,000 after purchasing an additional 62 shares during the period. Finally, D.A. Davidson & CO. acquired a new position in Madrigal Pharmaceuticals during the 4th quarter valued at about $221,000. 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.