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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $347.33.

Several brokerages have weighed in on MDGL. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Oppenheimer dropped their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. B. Riley lifted their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. HC Wainwright restated a "buy" rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Finally, StockNews.com raised shares of Madrigal Pharmaceuticals to a "sell" rating in a research note on Saturday, October 12th.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director Richard S. Levy sold 5,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 11,012 shares of the company's stock, valued at approximately $3,313,951.28. This represents a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fred B. Craves sold 3,400 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, November 25th. The stock was sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the sale, the director now directly owns 14,600 shares in the company, valued at approximately $5,114,380. This trade represents a 18.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock valued at $3,830,836 over the last ninety days. Corporate insiders own 22.80% of the company's stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently modified their holdings of MDGL. First Horizon Advisors Inc. lifted its position in Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 98 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company's stock worth $41,000 after acquiring an additional 39 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 68 shares during the last quarter. Quest Partners LLC boosted its position in shares of Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company's stock valued at $60,000 after acquiring an additional 209 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of Madrigal Pharmaceuticals by 615.4% in the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company's stock valued at $99,000 after purchasing an additional 320 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL traded up $2.03 during trading hours on Friday, reaching $304.50. The stock had a trading volume of 322,468 shares, compared to its average volume of 436,085. Madrigal Pharmaceuticals has a 52-week low of $168.25 and a 52-week high of $368.29. The stock has a fifty day moving average of $280.39 and a 200 day moving average of $264.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The stock has a market cap of $6.64 billion, a P/E ratio of -12.14 and a beta of -0.42.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) 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 analysts' expectations of $34.60 million. During the same period last year, the company earned ($5.34) earnings per share. Sell-side analysts predict that Madrigal Pharmaceuticals will post -23.7 earnings per share 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.