Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $378.44 Average PT from Brokerages

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $378.44.

MDGL has been the subject of several research analyst reports. Citigroup upped their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. B. Riley raised Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their price target for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, February 27th.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, General Counsel Shannon T. Kelley sold 277 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $75,734.57. Following the completion of the transaction, the general counsel now directly owns 7,705 shares of the company’s stock, valued at approximately $2,106,624.05. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 14,113 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the completion of the sale, the vice president now owns 3,728 shares in the company, valued at $1,272,440.96. This represents a 79.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock valued at $12,168,079 over the last ninety days. Corporate insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MDGL. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $70,000. Quest Partners LLC increased its holdings in shares of Madrigal Pharmaceuticals by 172.8% in the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after acquiring an additional 368 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth $141,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Madrigal Pharmaceuticals in the fourth quarter worth about $164,000. Finally, KBC Group NV lifted its holdings in shares of Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $343.29 on Friday. The stock’s 50-day simple moving average is $329.76 and its 200-day simple moving average is $295.52. The firm has a market capitalization of $7.58 billion, a PE ratio of -13.69 and a beta of -0.41. Madrigal Pharmaceuticals has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. 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, 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.