Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Cut to $390.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective cut by HC Wainwright from $425.00 to $390.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on MDGL. Piper Sandler restated an overweight rating and issued a $336.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, March 14th. Canaccord Genuity Group lifted their price target on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a buy rating in a report on Friday, March 15th. UBS Group increased their price objective on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a buy rating in a report on Friday, March 15th. StockNews.com upgraded Madrigal Pharmaceuticals to a sell rating in a research note on Friday, April 12th. Finally, Oppenheimer increased their price target on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an outperform rating in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of Moderate Buy and a consensus price target of $351.45.

Madrigal Pharmaceuticals Stock Down 0.5 %

MDGL stock traded down $1.12 during trading on Wednesday, hitting $206.92. 359,421 shares of the company’s stock traded hands, compared to its average volume of 525,093. The firm has a market capitalization of $4.40 billion, a P/E ratio of -10.38 and a beta of -0.33. Madrigal Pharmaceuticals has a 1 year low of $119.76 and a 1 year high of $302.68. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $239.69 and a two-hundred day simple moving average of $217.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same period in the previous year, the company earned ($4.23) earnings per share. Sell-side analysts anticipate that Madrigal Pharmaceuticals will post -21.86 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, CMO Rebecca Taub sold 2,676 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $245.99, for a total value of $658,269.24. Following the completion of the sale, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at $112,909,164.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Richard S. Levy sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $257.48, for a total value of $2,832,280.00. Following the transaction, the director now directly owns 10,298 shares in the company, valued at approximately $2,651,529.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Rebecca Taub sold 2,676 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $245.99, for a total value of $658,269.24. Following the completion of the sale, the chief marketing officer now owns 458,999 shares in the company, valued at approximately $112,909,164.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,496 shares of company stock valued at $31,362,420. Corporate insiders own 23.92% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Montag A & Associates Inc. lifted its position in shares of Madrigal Pharmaceuticals by 223.3% during the 3rd quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 134 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Madrigal Pharmaceuticals by 454.5% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 100 shares during the last quarter. UMB Bank n.a. purchased a new position in shares of Madrigal Pharmaceuticals in the 1st quarter valued at $53,000. China Universal Asset Management Co. Ltd. raised its stake in Madrigal Pharmaceuticals by 95.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock worth $68,000 after acquiring an additional 228 shares in the last quarter. Finally, BNP Paribas acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter worth $68,000. 98.50% of the stock is 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.