Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $341.75 Consensus Target Price from Brokerages

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $341.75.

Several brokerages have recently commented on MDGL. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, October 11th. Oppenheimer reduced their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. JMP Securities boosted their price target on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 16th. Finally, Citigroup reduced their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research note on Thursday, August 8th.

Insider Transactions at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the transaction, the chief executive officer now owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of institutional investors have recently modified their holdings of MDGL. Congress Park Capital LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 1st quarter worth $320,000. Hennion & Walsh Asset Management Inc. increased its holdings in Madrigal Pharmaceuticals by 20.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 32,318 shares of the biopharmaceutical company’s stock worth $8,630,000 after purchasing an additional 5,392 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Madrigal Pharmaceuticals in the 1st quarter worth about $102,000. AMI Asset Management Corp increased its holdings in Madrigal Pharmaceuticals by 101.5% in the 1st quarter. AMI Asset Management Corp now owns 9,618 shares of the biopharmaceutical company’s stock worth $2,568,000 after purchasing an additional 4,845 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Madrigal Pharmaceuticals by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 4,002 shares of the biopharmaceutical company’s stock worth $1,069,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL opened at $217.00 on Thursday. The company has a current ratio of 8.72, a quick ratio of 8.67 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals has a 12 month low of $120.65 and a 12 month high of $299.98. The stock has a 50 day moving average of $228.28 and a 200-day moving average of $242.42. The company has a market capitalization of $4.62 billion, a P/E ratio of -9.40 and a beta of -0.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, topping the consensus estimate of ($7.55) by $0.45. The business had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. During the same quarter in the prior year, the firm posted ($4.69) earnings per share. The business’s revenue was up 146280.0% compared to the same quarter last year. As a group, equities research analysts predict that Madrigal Pharmaceuticals will post -27.38 EPS for the current year.

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.