Brokerages Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Price Target at $347.33

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $347.33.

Several equities research analysts recently commented on MDGL shares. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. HC Wainwright reaffirmed a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. B. Riley lifted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Oppenheimer reduced their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, UBS Group lifted 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.

Madrigal Pharmaceuticals Stock Up 3.1 %

NASDAQ:MDGL opened at $333.39 on Tuesday. Madrigal Pharmaceuticals has a 1 year low of $168.25 and a 1 year high of $368.29. The stock has a 50-day moving average price of $319.69 and a two-hundred day moving average price of $272.17. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of -13.29 and a beta of -0.36. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the prior year, the firm posted ($5.34) earnings per share. As a group, equities analysts expect that Madrigal Pharmaceuticals will post -23.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Fred B. Craves sold 3,400 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the sale, the director now directly owns 14,600 shares in the company, valued at approximately $5,114,380. The trade was a 18.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard S. Levy sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the sale, the director now directly owns 11,012 shares in the company, valued at $3,313,951.28. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $3,830,836 over the last three months. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of MDGL. Avoro Capital Advisors LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 5.7% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after acquiring an additional 111,111 shares during the period. Paulson & CO. Inc. lifted its position in shares of Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after buying an additional 192,000 shares during the last quarter. RTW Investments LP raised its stake in Madrigal Pharmaceuticals by 4.1% during the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock worth $423,100,000 after acquiring an additional 77,825 shares in the last quarter. State Street Corp lifted its holdings in shares of Madrigal Pharmaceuticals by 19.2% in the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after acquiring an additional 143,038 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Madrigal Pharmaceuticals by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after purchasing an additional 5,801 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

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.