Madrigal Pharmaceuticals (NASDAQ:MDGL) Hits New 12-Month High Following Analyst Upgrade

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) reached a new 52-week high during mid-day trading on Monday after B. Riley raised their price target on the stock from $194.00 to $236.00. B. Riley currently has a neutral rating on the stock. Madrigal Pharmaceuticals traded as high as $324.00 and last traded at $322.63, with a volume of 124277 shares. The stock had previously closed at $319.58.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, October 11th. Citigroup dropped their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. JMP Securities lifted their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Finally, Oppenheimer decreased their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. 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. According to MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $347.33.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 5,000 shares of the company’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 transaction of $1,504,700.00. Following the sale, the director now directly owns 11,012 shares of the company’s stock, valued at $3,313,951.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the sale, the director now owns 11,012 shares in the company, valued at approximately $3,313,951.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDGL. Avoro Capital Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 5.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock valued at $575,884,000 after purchasing an additional 111,111 shares during the last quarter. Paulson & CO. Inc. lifted its position in Madrigal Pharmaceuticals by 4.2% in the second quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company’s stock worth $518,296,000 after buying an additional 75,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in Madrigal Pharmaceuticals by 6.0% during the first quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock worth $445,638,000 after buying an additional 94,064 shares during the period. Price T Rowe Associates Inc. MD increased its position in Madrigal Pharmaceuticals by 106.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company’s stock valued at $214,491,000 after acquiring an additional 414,484 shares during the last quarter. Finally, Fiera Capital Corp bought a new position in Madrigal Pharmaceuticals during the second quarter valued at $32,335,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Trading Up 1.9 %

The company’s 50 day moving average price is $230.57 and its two-hundred day moving average price is $244.46. The firm has a market cap of $7.36 billion, a PE ratio of -13.46 and a beta of -0.46. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same period last year, the company earned ($5.34) earnings per share. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -27.27 EPS for the current year.

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.